The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 52.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,102 shares of the bank’s stock after selling 18,837 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. raised its stake in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC acquired a new position in Bank of New York Mellon during the second quarter worth about $30,000. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $32,000. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Finally, Grove Bank & Trust increased its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in 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 research firms recently issued reports on BK. Evercore ISI upped 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 research note on Monday, October 14th. Morgan Stanley increased their price objective 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. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.08.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $77.58 on Friday. The Bank of New York Mellon Co. has a 1 year low of $46.04 and a 1 year high of $80.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50 day moving average price of $73.56 and a 200 day moving average price of $65.66. The company has a market cap of $56.41 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07.

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

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the company’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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the 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 sale, the executive vice president now 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. Corporate insiders own 0.14% of the company’s stock.

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.