Cable Hill Partners LLC Sells 511 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Cable Hill Partners LLC lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,582 shares of the bank’s stock after selling 511 shares during the quarter. Cable Hill Partners LLC’s holdings in Bank of New York Mellon were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Ameriprise Financial Inc. lifted its holdings in Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after buying an additional 421,161 shares during the period. Victory Capital Management Inc. raised its position in shares of Bank of New York Mellon by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock worth $490,640,000 after acquiring an additional 179,503 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Bank of New York Mellon by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after purchasing an additional 97,286 shares during the period. LSV Asset Management boosted its position in shares of Bank of New York Mellon by 3.9% during the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after purchasing an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Bank of New York Mellon by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after purchasing an additional 454,151 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction 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 in the company, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent research reports. Morgan Stanley raised 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 report on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Citigroup boosted their price objective on shares of 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. Evercore ISI raised their target price on shares of 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. Finally, The Goldman Sachs Group lifted 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 report on Thursday, September 26th. Six 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.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $77.08.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK opened at $77.61 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $46.00 and a 1 year high of $80.29. The company has a market cap of $56.43 billion, a P/E ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07. The stock’s fifty day moving average price is $73.36 and its 200-day moving average price is $65.57.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.52 billion. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

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.