The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Biechele Royce Advisors

Biechele Royce Advisors reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 331,011 shares of the bank’s stock after selling 6,377 shares during the quarter. Bank of New York Mellon accounts for approximately 7.8% of Biechele Royce Advisors’ holdings, making the stock its 2nd biggest position. Biechele Royce Advisors’ holdings in Bank of New York Mellon were worth $23,786,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its stake in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, 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 completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, 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 completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon 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 transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. 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 Stock Performance

BK traded down $0.05 during trading hours on Friday, hitting $75.31. The stock had a trading volume of 3,339,487 shares, compared to its average volume of 3,862,341. The company’s fifty day simple moving average is $72.01 and its 200 day simple moving average is $64.43. The Bank of New York Mellon Co. has a 1 year low of $43.46 and a 1 year high of $78.03. The stock has a market cap of $55.58 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 40.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Citigroup lifted their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

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.