Natixis Advisors LLC Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

Natixis Advisors LLC decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 268,508 shares of the bank’s stock after selling 1,239 shares during the period. Natixis Advisors LLC’s holdings in Bank of New York Mellon were worth $19,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in shares of Bank of New York Mellon by 659.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 437,755 shares of the bank’s stock worth $31,457,000 after buying an additional 380,091 shares during the last quarter. Linscomb Wealth Inc. purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $204,000. Empowered Funds LLC grew its stake in shares of Bank of New York Mellon by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock worth $989,000 after buying an additional 1,162 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Bank of New York Mellon by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 26,040 shares of the bank’s stock worth $1,871,000 after buying an additional 589 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Bank of New York Mellon by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 127,784 shares of the bank’s stock worth $9,183,000 after buying an additional 6,668 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were 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 in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. 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 research firms recently weighed in on BK. Morgan Stanley upped their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, UBS Group increased their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $77.60 on Wednesday. The Bank of New York Mellon Co. has a one year low of $46.71 and a one year high of $80.29. The stock’s fifty day moving average is $74.41 and its 200 day moving average is $66.32. The stock has a market cap of $56.42 billion, a P/E ratio of 16.87, a P/E/G 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.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Bank of New York Mellon’s payout ratio is presently 40.87%.

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.