Insider Selling: The Bank of New York Mellon Co. (NYSE:BK) EVP Sells $1,907,750.00 in Stock

The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $76.67 on Friday. The Bank of New York Mellon Co. has a 52-week low of $41.15 and a 52-week high of $78.03. The stock has a market cap of $57.34 billion, a PE ratio of 17.75, a PEG ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50 day moving average price is $69.81 and its two-hundred day moving average price is $63.11.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. Bank of New York Mellon’s payout ratio is presently 43.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BK. Barclays increased their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. JPMorgan Chase & Co. upped 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 objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Hedge Funds Weigh In On Bank of New York Mellon

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Entropy Technologies LP acquired a new stake in Bank of New York Mellon in the first quarter worth $1,027,000. QRG Capital Management Inc. raised its holdings 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 purchasing an additional 8,204 shares during the period. Wakefield Asset Management LLLP acquired a new stake in Bank of New York Mellon in the first quarter worth $3,740,000. Bessemer Group Inc. raised its holdings 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 purchasing an additional 17,312 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings 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 purchasing an additional 421,161 shares during the period. 85.31% of the stock is owned by institutional investors.

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.