Charles Schwab Investment Management Inc. Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 4,837,349 shares of the bank’s stock after selling 46,411 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bank of New York Mellon were worth $347,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Smithfield Trust Co boosted its stake in shares of Bank of New York Mellon by 1.9% in the third quarter. Smithfield Trust Co now owns 147,786 shares of the bank’s stock worth $10,619,000 after acquiring an additional 2,810 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 119.1% during the third quarter. Pacer Advisors Inc. now owns 116,690 shares of the bank’s stock worth $8,385,000 after buying an additional 63,427 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Bank of New York Mellon by 1.2% in the third quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock valued at $51,732,000 after buying an additional 8,400 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Bank of New York Mellon by 7.9% in the third quarter. Intech Investment Management LLC now owns 172,866 shares of the bank’s stock worth $12,422,000 after buying an additional 12,656 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in Bank of New York Mellon by 1.2% during the 3rd quarter. King Luther Capital Management Corp now owns 40,286 shares of the bank’s stock valued at $2,895,000 after acquiring an additional 459 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on BK. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Morgan Stanley upped their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Evercore ISI raised 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 research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.23.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of 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 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 1.6 %

NYSE:BK opened at $80.14 on Friday. 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 stock’s 50 day simple moving average is $75.03 and its 200-day simple moving average is $66.64. The Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $80.29. The firm has a market cap of $58.27 billion, a P/E ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion during 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%. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 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.