The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,699 shares of the bank’s stock after selling 540 shares during the period. Bank of New York Mellon comprises approximately 2.0% of Granite Group Advisors LLC’s portfolio, making the stock its 4th biggest holding. Granite Group Advisors LLC’s holdings in Bank of New York Mellon were worth $3,140,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BK. Entropy Technologies LP acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,027,000. QRG Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after purchasing an additional 8,204 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,312 shares during the last quarter. United Advisor Group LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Finally, Ameriprise Financial Inc. raised its position in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of a number of analyst reports. Evercore ISI increased their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. JPMorgan Chase & Co. raised 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. Finally, UBS Group lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Bank of New York Mellon Trading Down 0.5 %

Shares of NYSE BK traded down $0.36 during trading on Friday, hitting $77.33. 228,987 shares of the company traded hands, compared to its average volume of 3,850,672. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $56.23 billion, a P/E ratio of 16.89, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a 50-day moving average price of $72.56 and a 200-day moving average price of $64.94. The Bank of New York Mellon Co. has a 1 year low of $44.93 and a 1 year high of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.79 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.43%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company’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 transaction, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at $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 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.