The Bank of New York Mellon Co. (NYSE:BK) Stake Lessened by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,826 shares of the bank’s stock after selling 2,721 shares during the period. IFM Investors Pty Ltd’s holdings in Bank of New York Mellon were worth $12,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after purchasing an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. grew its position in Bank of New York Mellon by 6,040.9% in the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after buying an additional 1,020,906 shares during the last quarter. M&G Plc bought a new position in shares of Bank of New York Mellon in the first quarter valued at $55,543,000. Swedbank AB acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after acquiring an additional 574,319 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon 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 in the company, 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 Securities & Exchange Commission, which is available through the SEC website. In other news, VP Hanneke Smits sold 16,475 shares of the 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 transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 0.2 %

NYSE BK opened at $76.49 on Friday. The company has a market capitalization of $57.20 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $41.28 and a 1-year high of $78.03. 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 firm’s fifty day simple moving average is $70.55 and its 200-day simple moving average is $63.51.

Bank of New York Mellon Dividend Announcement

The company 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent analyst reports. Barclays boosted their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $80.00 in a report on Monday, September 23rd. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Evercore ISI raised their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $76.69.

About Bank of New York Mellon

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.