The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 82.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,244 shares of the bank’s stock after selling 56,905 shares during the quarter. ING Groep NV’s holdings in Bank of New York Mellon were worth $880,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Bank of New York Mellon by 10.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,961 shares of the bank’s stock valued at $1,506,000 after purchasing an additional 1,990 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Bank of New York Mellon by 2.6% in the third quarter. Metis Global Partners LLC now owns 50,980 shares of the bank’s stock valued at $3,663,000 after purchasing an additional 1,278 shares during the last quarter. Huntington National Bank grew its position in shares of Bank of New York Mellon by 5.7% in the third quarter. Huntington National Bank now owns 7,568 shares of the bank’s stock valued at $544,000 after purchasing an additional 407 shares during the last quarter. Plato Investment Management Ltd grew its position in shares of Bank of New York Mellon by 17.6% in the third quarter. Plato Investment Management Ltd now owns 66,413 shares of the bank’s stock valued at $4,768,000 after purchasing an additional 9,947 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Bank of New York Mellon by 32.5% during the third quarter. Oppenheimer & Co. Inc. now owns 34,403 shares of the bank’s stock worth $2,472,000 after acquiring an additional 8,435 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. UBS Group raised 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 research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased 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 note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.23.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $78.29 on Monday. The company’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $66.02. The Bank of New York Mellon Co. has a 52 week low of $46.04 and a 52 week high of $80.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $56.92 billion, a PE ratio of 17.02, a P/E/G ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction 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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.