Barclays PLC Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Barclays PLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,359,296 shares of the bank’s stock after selling 1,027,220 shares during the period. Barclays PLC’s holdings in Bank of New York Mellon were worth $169,542,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Bank of New York Mellon by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,699 shares of the bank’s stock worth $1,060,000 after acquiring an additional 646 shares during the period. Wedmont Private Capital grew its stake in Bank of New York Mellon by 13.9% in the second quarter. Wedmont Private Capital now owns 5,231 shares of the bank’s stock worth $338,000 after purchasing an additional 640 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Bank of New York Mellon by 18.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,127 shares of the bank’s stock worth $3,841,000 after purchasing an additional 10,114 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Bank of New York Mellon during the second quarter valued at $219,000. Finally, Welch Group LLC boosted its holdings in shares of Bank of New York Mellon by 217.4% during the 2nd quarter. Welch Group LLC now owns 16,936 shares of the bank’s stock valued at $1,014,000 after buying an additional 11,600 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on 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 transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 0.0 %

NYSE:BK opened at $80.62 on Wednesday. The company has a market cap of $58.62 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 0.92 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 has a 50 day simple moving average of $77.14 and a two-hundred day simple moving average of $68.52. The Bank of New York Mellon Co. has a 12 month low of $49.15 and a 12 month high of $82.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.52 billion. Research analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BK. Barclays lifted 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 research report on Monday, October 14th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Citigroup upped their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Morgan Stanley upgraded Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $82.00 to $94.00 in a research note on Monday. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Bank of New York Mellon Company 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.