TD Asset Management Inc. lowered its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 990,117 shares of the bank’s stock after selling 17,267 shares during the quarter. TD Asset Management Inc. owned approximately 0.10% of Bank Of New York Mellon worth $52,496,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of BK. Country Trust Bank boosted its position in Bank Of New York Mellon by 4.1% during the third quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock worth $32,132,000 after purchasing an additional 23,683 shares during the period. Toronto Dominion Bank boosted its position in Bank Of New York Mellon by 24.7% during the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock worth $18,577,000 after purchasing an additional 72,058 shares during the period. MUFG Americas Holdings Corp lifted its holdings in shares of Bank Of New York Mellon by 5.3% in the second quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock worth $13,469,000 after buying an additional 13,228 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Bank Of New York Mellon by 7.4% in the third quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after buying an additional 70,619 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Bank Of New York Mellon in the second quarter worth about $304,000. Institutional investors own 82.44% of the company’s stock.
In related news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the completion of the sale, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The disclosure for this sale can be found here. Insiders sold 7,670,182 shares of company stock worth $402,890,932 over the last ninety days. 3.60% of the stock is currently owned by insiders.
Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $52.23 on Friday. The firm has a market cap of $53,484.67, a P/E ratio of 15.05, a P/E/G ratio of 1.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.69. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.29.
Bank Of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. Bank Of New York Mellon’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. equities analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, October 30th. Bank Of New York Mellon’s dividend payout ratio is currently 28.07%.
A number of equities research analysts have recently issued reports on BK shares. Zacks Investment Research downgraded shares of Bank Of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon in a report on Thursday, August 31st. UBS AG downgraded shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Friday, September 8th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $58.00 price target (up from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.28.
Bank Of New York Mellon Profile
The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.
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