The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Sicart Associates LLC

Sicart Associates LLC trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the bank’s stock after selling 5,000 shares during the period. Sicart Associates LLC’s holdings in Bank of New York Mellon were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $40,000. Finally, Fortitude Family Office LLC raised its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.2 %

BK traded up $0.17 on Tuesday, reaching $76.68. 891,747 shares of the company traded hands, compared to its average volume of 3,858,209. The stock’s 50 day moving average price is $71.19 and its 200-day moving average price 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 company has a market cap of $57.34 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 43.52%.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. 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. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Insider Activity at Bank of New York Mellon

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

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.