Prio Wealth Limited Partnership Sells 7,250 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Prio Wealth Limited Partnership reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 55.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,809 shares of the bank’s stock after selling 7,250 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Bank of New York Mellon were worth $417,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the period. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Bank of New York Mellon during the first quarter valued at approximately $32,000. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $32,000. Finally, Family Firm Inc. purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $40,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $75.91 on Tuesday. The Bank of New York Mellon Co. has a 12 month low of $41.28 and a 12 month high of $78.03. The stock has a fifty day moving average price of $70.06 and a 200-day moving average price of $63.28. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market cap of $56.77 billion, a PE ratio of 17.57, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.48%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade 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 this link. In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % 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.

Analysts Set New Price Targets

Several brokerages have issued reports on BK. Barclays boosted their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price target 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. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $80.00 in a report on Monday, September 23rd. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.69.

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.