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 The Bank of New York Mellon Co. (NYSE:BK) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 836,515 shares of the bank’s stock after selling 34,551 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Bank of New York Mellon were worth $28,726,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Lincoln National Corp grew its position in shares of The Bank of New York Mellon by 2.7% in the second quarter. Lincoln National Corp now owns 10,959 shares of the bank’s stock valued at $424,000 after purchasing an additional 283 shares during the last quarter. First Bank & Trust lifted its stake in shares of The Bank of New York Mellon by 6.9% during the third quarter. First Bank & Trust now owns 4,575 shares of the bank’s stock valued at $157,000 after buying an additional 296 shares during the period. Parallel Advisors LLC lifted its stake in shares of The Bank of New York Mellon by 4.7% during the third quarter. Parallel Advisors LLC now owns 6,573 shares of the bank’s stock valued at $226,000 after buying an additional 297 shares during the period. Berman Capital Advisors LLC lifted its stake in shares of The Bank of New York Mellon by 32.5% during the second quarter. Berman Capital Advisors LLC now owns 1,297 shares of the bank’s stock valued at $50,000 after buying an additional 318 shares during the period. Finally, CAPROCK Group Inc. lifted its stake in shares of The Bank of New York Mellon by 3.0% during the third quarter. CAPROCK Group Inc. now owns 10,918 shares of the bank’s stock valued at $375,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 76.73% of the company’s stock.

Several equities analysts recently issued reports on the stock. Smith Barney Citigroup downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft raised shares of The Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $39.00 to $46.00 in a research note on Wednesday, November 11th. Morgan Stanley downgraded 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. Keefe, Bruyette & Woods downgraded shares of The Bank of New York Mellon from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $47.00 to $43.00 in a research note on Wednesday. Finally, Bank of America downgraded shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $42.00 to $39.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The Bank of New York Mellon currently has a consensus rating of “Hold” and an average price target of $44.56.

Shares of BK stock opened at $37.88 on Friday. The company’s fifty day simple moving average is $36.75 and its 200-day simple moving average is $36.69. The Bank of New York Mellon Co. has a 52 week low of $26.40 and a 52 week high of $51.60. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.65. The company has a market cap of $33.57 billion, a PE ratio of 8.31, a P/E/G ratio of 1.26 and a beta of 1.03.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, October 28th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Tuesday, October 27th. The Bank of New York Mellon’s payout ratio is 30.85%.

About The Bank of New York Mellon

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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