J Kevin Mccarthy Sells 25,000 Shares of The Bank of New York Mellon Co. (NYSE:BK) Stock

The Bank of New York Mellon Co. (NYSE:BK) 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 sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.45 during mid-day trading on Thursday, reaching $77.75. 3,111,156 shares of the stock traded hands, compared to its average volume of 3,886,473. The business has a 50-day moving average of $69.26 and a 200 day moving average of $62.83. The Bank of New York Mellon Co. has a fifty-two week low of $41.15 and a fifty-two week high of $78.03. The stock has a market capitalization of $58.14 billion, a PE ratio of 17.95, a PEG ratio of 1.16 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 0.85.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BK shares. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday. Wells Fargo & Company upped 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. Citigroup upped 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Morgan Stanley upped their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine 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 a consensus price target of $76.69.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. grew its position in Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after acquiring an additional 8,204 shares during the period. Wakefield Asset Management LLLP purchased a new position in Bank of New York Mellon in the first quarter worth approximately $3,740,000. Bessemer Group Inc. grew its position in Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after acquiring an additional 17,312 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.