Exchange Traded Concepts LLC Has $11.58 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Exchange Traded Concepts LLC lowered its stake in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 161,115 shares of the bank’s stock after selling 16,778 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Bank of New York Mellon were worth $11,578,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in shares of Bank of New York Mellon by 10.9% in the third quarter. Ritholtz Wealth Management now owns 27,643 shares of the bank’s stock valued at $1,986,000 after buying an additional 2,718 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Bank of New York Mellon by 2.2% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 27,314 shares of the bank’s stock valued at $1,963,000 after purchasing an additional 585 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Bank of New York Mellon by 4.4% in the third quarter. Valeo Financial Advisors LLC now owns 8,902 shares of the bank’s stock worth $640,000 after purchasing an additional 372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Bank of New York Mellon by 288.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,984 shares of the bank’s stock worth $430,000 after buying an additional 4,445 shares during the period. Finally, LVW Advisors LLC increased its stake in shares of Bank of New York Mellon by 5.4% in the third quarter. LVW Advisors LLC now owns 14,818 shares of the bank’s stock valued at $1,065,000 after buying an additional 760 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The trade was 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 at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BK. Barclays boosted their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $80.00 in a report on Monday, September 23rd. Citigroup boosted their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.92.

Read Our Latest Report on Bank of New York Mellon

Bank of New York Mellon Stock Performance

Shares of BK opened at $74.15 on Friday. The company has a 50-day simple moving average of $68.37 and a two-hundred day simple moving average of $62.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $55.45 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $76.15.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly 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. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.66 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s payout ratio is 43.52%.

About Bank of New York Mellon

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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