The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 17.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,330 shares of the bank’s stock after selling 4,059 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Bank of New York Mellon were worth $1,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Counselors Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bank of New York Mellon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after purchasing an additional 117,974 shares during the period. Fiduciary Trust Co boosted its holdings in Bank of New York Mellon by 2.7% during the third quarter. Fiduciary Trust Co now owns 12,967 shares of the bank’s stock worth $932,000 after buying an additional 343 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bank of New York Mellon by 1.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,932,633 shares of the bank’s stock valued at $138,879,000 after buying an additional 30,986 shares during the period. Finally, CreativeOne Wealth LLC increased its holdings in Bank of New York Mellon by 3.8% in the third quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock valued at $645,000 after buying an additional 332 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BK shares. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of 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. Finally, Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $81.91 on Friday. The Bank of New York Mellon Co. has a twelve month low of $47.44 and a twelve month high of $82.72. The company has a market cap of $59.55 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.93 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 company’s 50-day moving average price is $76.07 and its 200-day moving average price is $67.47.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal 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 $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.