Vinva Investment Management Ltd Sells 68,016 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Vinva Investment Management Ltd cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 29.0% in the third quarter, Holdings Channel reports. The fund owned 166,485 shares of the bank’s stock after selling 68,016 shares during the period. Vinva Investment Management Ltd’s holdings in Bank of New York Mellon were worth $11,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new position in Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays raised their price target on shares of 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. Citigroup upped their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.15.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.6 %

Shares of NYSE BK opened at $81.74 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $82.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $59.43 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The firm has a 50 day moving average price of $75.67 and a 200 day moving average price of $67.20.

Bank of New York Mellon (NYSE:BK) last posted its 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. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. 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 business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.30%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Bank of New York Mellon 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.