Martingale Asset Management L P Sells 3,763 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Martingale Asset Management L P trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 330,908 shares of the bank’s stock after selling 3,763 shares during the quarter. Martingale Asset Management L P’s holdings in Bank of New York Mellon were worth $23,779,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. United Advisor Group LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $595,000. Principal Financial Group Inc. raised its holdings in Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares during the last quarter. Chase Investment Counsel Corp raised its holdings in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after buying an additional 33,558 shares during the last quarter. Finally, Williams Financial LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $587,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BK. UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Price Performance

BK opened at $81.74 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $59.43 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The firm’s fifty day moving average price is $75.87 and its two-hundred day moving average price is $67.30. The Bank of New York Mellon Co. has a 1 year low of $46.81 and a 1 year high of $82.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

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.