Cantor Fitzgerald Investment Advisors L.P. Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Cantor Fitzgerald Investment Advisors L.P. lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 38.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,466 shares of the bank’s stock after selling 124,276 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Bank of New York Mellon were worth $14,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BK. McClarren Financial Advisors Inc. grew its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Grove Bank & Trust increased its holdings in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.7 %

Shares of BK opened at $76.51 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average is $71.19 and its two-hundred day moving average is $63.98. The Bank of New York Mellon Co. has a 52-week low of $41.80 and a 52-week high of $78.03. The stock has a market cap of $57.22 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BK. UBS Group boosted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $76.69.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.