IFM Investors Pty Ltd Has $12.06 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

IFM Investors Pty Ltd decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,826 shares of the bank’s stock after selling 2,721 shares during the period. IFM Investors Pty Ltd’s holdings in Bank of New York Mellon were worth $12,060,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Stanley Laman Group Ltd. boosted its holdings in Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after purchasing an additional 135 shares during the period. Grove Bank & Trust grew its holdings in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Signaturefd LLC increased its position in shares of Bank of New York Mellon by 1.1% during the third quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock valued at $1,034,000 after purchasing an additional 157 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of Bank of New York Mellon by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after purchasing an additional 165 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Bank of New York Mellon by 3.8% during the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after buying an additional 171 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $76.49 on Friday. The stock’s fifty day moving average is $70.55 and its 200-day moving average is $63.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 52 week low of $41.28 and a 52 week high of $78.03. The stock has a market capitalization of $57.20 billion, a PE ratio of 17.71, a PEG ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BK. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. 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 report on Monday, October 14th. Morgan Stanley increased their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % 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. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.