Bartlett & CO. Wealth Management LLC Has $1.19 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Bartlett & CO. Wealth Management LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 8.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,581 shares of the bank’s stock after selling 1,530 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,192,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Bank of New York Mellon during the first quarter worth about $32,000. Grove Bank & Trust increased its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $40,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Morgan Stanley boosted their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Finally, Evercore ISI lifted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Stock Performance

NYSE BK opened at $76.67 on Friday. The firm’s 50 day simple moving average is $69.81 and its 200 day simple moving average is $63.11. The firm has a market capitalization of $57.34 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 1 year low of $41.15 and a 1 year high of $78.03.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.45%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’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 transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is 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.