Commonwealth Retirement Investments LLC Sells 700 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Commonwealth Retirement Investments LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,030 shares of the bank’s stock after selling 700 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Bank of New York Mellon were worth $864,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Marshall Wace LLP raised its position in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after purchasing an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Bank of New York Mellon by 6,040.9% in the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after buying an additional 1,020,906 shares during the last quarter. M&G Plc purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $55,543,000. Swedbank AB purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Bank of New York Mellon by 89.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock valued at $72,835,000 after acquiring an additional 574,319 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $0.29 during mid-day trading on Tuesday, reaching $78.39. 342,105 shares of the stock traded hands, compared to its average volume of 3,845,146. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $73.16 and a 200 day moving average of $65.43. The stock has a market capitalization of $57.00 billion, a PE ratio of 17.11, a PEG ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a fifty-two week low of $45.22 and a fifty-two week high of $80.29.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating 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 firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. On average, analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Bank of New York Mellon’s payout ratio is presently 40.87%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BK shares. UBS Group boosted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup raised their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI upped their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $77.08.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.