Citigroup Inc. Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Citigroup Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 606,461 shares of the bank’s stock after selling 22,419 shares during the quarter. Citigroup Inc.’s holdings in Bank of New York Mellon were worth $43,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BK. Marshall Wace LLP boosted its holdings in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after purchasing an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after acquiring an additional 1,020,906 shares in the last quarter. Swedbank AB purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after acquiring an additional 574,319 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Bank of New York Mellon by 440.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 645,811 shares of the bank’s stock worth $38,678,000 after acquiring an additional 526,249 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.6 %

BK stock opened at $80.14 on Monday. The company has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $75.03 and a 200-day simple moving average of $66.77. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS 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. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on 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. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Evercore ISI lifted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Barclays lifted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lifted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.23.

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.