The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,724,132 shares of the bank’s stock after selling 117,246 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Bank of New York Mellon worth $123,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its holdings in Bank of New York Mellon by 28.1% during the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock worth $612,000 after buying an additional 2,328 shares during the last quarter. Headlands Technologies LLC purchased a new position in Bank of New York Mellon in the first quarter valued at approximately $155,000. Entropy Technologies LP acquired a new stake in Bank of New York Mellon during the first quarter worth approximately $1,027,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Bank of New York Mellon by 18.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 902,684 shares of the bank’s stock worth $52,013,000 after buying an additional 142,947 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Bank of New York Mellon by 1.6% in the 1st quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock valued at $1,233,000 after buying an additional 338 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $77.61 on Thursday. 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 stock has a 50 day simple moving average of $73.36 and a 200-day simple moving average of $65.57. The company has a market cap of $56.43 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a 12-month low of $46.00 and a 12-month high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. On average, equities analysts forecast 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 $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. UBS Group raised their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $77.08.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 of the company’s stock, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.