Avior Wealth Management LLC Has $320,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Avior Wealth Management LLC trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,452 shares of the bank’s stock after selling 147 shares during the quarter. Avior Wealth Management LLC’s holdings in Bank of New York Mellon were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Marshall Wace LLP increased its position in Bank of New York Mellon by 99.4% in the second 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 period. Panagora Asset Management Inc. raised its position in shares of Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after acquiring an additional 1,020,906 shares during the period. Swedbank AB bought a new position in Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Bank of New York Mellon by 89.5% during the second 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 purchasing an additional 574,319 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Bank of New York Mellon by 440.1% in the second quarter. Public Sector Pension Investment Board now owns 645,811 shares of the bank’s stock valued at $38,678,000 after purchasing an additional 526,249 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BK. Evercore ISI boosted their price target on shares of 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. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup increased their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Stock Up 1.6 %

Shares of BK stock opened at $80.14 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 1 year low of $46.81 and a 1 year high of $80.29. The firm’s fifty day moving average price is $75.03 and its two-hundred day moving average price is $66.64. The firm has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal 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 paid a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $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. 0.14% of the stock is owned by company insiders.

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.