The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,876 shares of the bank’s stock after selling 3,431 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bank of New York Mellon were worth $6,530,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BK. McClarren Financial Advisors Inc. raised its position in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Olistico Wealth LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth about $30,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new stake in Bank of New York Mellon during the second quarter worth about $40,000. Finally, Fortitude Family Office LLC lifted its position in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BK shares. Evercore ISI lifted their price objective 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. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price 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 upped their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Barclays lifted their price objective on 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 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Stock Down 1.3 %

BK stock opened at $77.60 on Wednesday. The stock has a market cap of $56.42 billion, a P/E ratio of 16.87, a PEG ratio of 0.89 and a beta of 1.07. 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 twelve month low of $46.71 and a twelve month high of $80.29. The company’s 50 day moving average is $74.41 and its two-hundred day moving average is $66.32.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping 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. Research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’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 value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.