Simplicity Wealth LLC Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Simplicity Wealth LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 64.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,520 shares of the bank’s stock after selling 6,498 shares during the quarter. Simplicity Wealth LLC’s holdings in Bank of New York Mellon were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $247,000. Syon Capital LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth $233,000. SageView Advisory Group LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $1,208,000. ICA Group Wealth Management LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $97,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Bank of New York Mellon by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 251,344 shares of the bank’s stock valued at $13,082,000 after buying an additional 4,619 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BK. Barclays increased their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI raised their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $80.00 in a report on Monday, September 23rd. UBS Group raised 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. Finally, Keefe, Bruyette & Woods reaffirmed 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 note on Monday, July 15th. Five 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, the company has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Up 3.2 %

Shares of NYSE:BK opened at $76.51 on Tuesday. The firm has a market capitalization of $57.22 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $68.67 and a 200-day moving average price of $62.60. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $76.61.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.66 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 is 43.52%.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

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.