The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 836,515 shares of the bank’s stock after selling 34,551 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of The Bank of New York Mellon worth $28,726,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BK. M&T Bank Corp lifted its stake in The Bank of New York Mellon by 39.6% in the 2nd quarter. M&T Bank Corp now owns 129,773 shares of the bank’s stock valued at $5,015,000 after buying an additional 36,794 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in The Bank of New York Mellon in the 2nd quarter valued at about $766,000. Ethic Inc. purchased a new position in The Bank of New York Mellon in the 2nd quarter valued at about $421,000. Kentucky Retirement Systems purchased a new position in The Bank of New York Mellon in the 2nd quarter valued at about $1,734,000. Finally, CX Institutional lifted its stake in The Bank of New York Mellon by 40.3% in the 3rd quarter. CX Institutional now owns 73,564 shares of the bank’s stock valued at $2,526,000 after buying an additional 21,135 shares in the last quarter. Hedge funds and other institutional investors own 76.73% of the company’s stock.

BK stock opened at $37.88 on Friday. The Bank of New York Mellon Co. has a one year low of $26.40 and a one year high of $51.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $36.75 and its 200-day moving average price is $36.69. The firm has a market cap of $33.57 billion, a PE ratio of 8.31, a PEG ratio of 1.26 and a beta of 1.03.

The Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 16th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts predict that The Bank of New York Mellon Co. will post 3.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, October 28th were issued a $0.31 dividend. The ex-dividend date was Tuesday, October 27th. This represents a $1.24 annualized dividend and a yield of 3.27%. The Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.85%.

A number of research analysts recently weighed in on the stock. Bank of America lowered shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $42.00 to $39.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft raised shares of The Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $39.00 to $46.00 in a research note on Wednesday, November 11th. UBS Group decreased their target price on shares of The Bank of New York Mellon from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Morgan Stanley lowered shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.56.

The Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.

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Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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