Claro Advisors LLC Sells 467 Shares of The Bank of New York Mellon Corporation $BK

Claro Advisors LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 11.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,740 shares of the bank’s stock after selling 467 shares during the period. Claro Advisors LLC’s holdings in Bank of New York Mellon were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $295,000. Elyxium Wealth LLC lifted its stake in Bank of New York Mellon by 2.9% in the second quarter. Elyxium Wealth LLC now owns 7,281 shares of the bank’s stock worth $663,000 after acquiring an additional 205 shares during the period. Huntington National Bank lifted its stake in Bank of New York Mellon by 2.0% in the second quarter. Huntington National Bank now owns 11,401 shares of the bank’s stock worth $1,039,000 after acquiring an additional 221 shares during the period. Hussman Strategic Advisors Inc. bought a new position in Bank of New York Mellon during the 2nd quarter worth about $957,000. Finally, Bridgewater Advisors Inc. increased its position in Bank of New York Mellon by 5.0% during the 2nd quarter. Bridgewater Advisors Inc. now owns 3,472 shares of the bank’s stock valued at $316,000 after purchasing an additional 164 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of several recent research reports. Barclays boosted their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. TD Cowen boosted their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Citigroup upped their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Morgan Stanley increased their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $108.57 on Friday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.98 and a beta of 1.13. The stock’s 50-day simple moving average is $106.98 and its 200-day simple moving average is $97.59.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is 30.59%.

About Bank of New York Mellon

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.