Oppenheimer Asset Management Inc. Sells 2,587 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Oppenheimer Asset Management Inc. lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 20.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,809 shares of the bank’s stock after selling 2,587 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bank of New York Mellon were worth $705,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP increased its position in Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after buying an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. increased its position in Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after buying an additional 1,020,906 shares in the last quarter. Swedbank AB bought a new position in Bank of New York Mellon during the 1st quarter valued at approximately $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in 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 valued at $72,835,000 after buying an additional 574,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Bank of New York Mellon by 69.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock valued at $80,529,000 after buying an additional 574,185 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley lifted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday. Evercore ISI lifted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred 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 owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Price Performance

NYSE BK opened at $78.65 on Tuesday. The company has a market capitalization of $57.18 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. 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 business’s fifty day moving average is $74.21 and its 200 day moving average is $66.17. The Bank of New York Mellon Co. has a fifty-two week low of $46.71 and a fifty-two week high of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

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.