Mitsubishi UFJ Trust & Banking Corp Sells 6,407 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mitsubishi UFJ Trust & Banking Corp reduced its position in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,216 shares of the bank’s stock after selling 6,407 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Bank of New York Mellon worth $22,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BK. Acadian Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 160.0% in the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after acquiring an additional 3,297 shares in the last quarter. Prudential PLC bought a new stake in shares of Bank of New York Mellon in the first quarter valued at about $1,096,000. Cetera Investment Advisers raised its holdings in Bank of New York Mellon by 3.3% in the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after purchasing an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in Bank of New York Mellon by 54.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after purchasing an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after buying an additional 909 shares during the last quarter. 81.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target for the company in a research report on Monday, December 18th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Finally, UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Hold” and a consensus price target of $53.75.

Check Out Our Latest Research Report on BK

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,425 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the sale, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $55.22 on Monday. The firm has a market capitalization of $42.47 billion, a P/E ratio of 13.91, a PEG ratio of 1.15 and a beta of 1.12. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $52.87 and a 200 day moving average price of $47.34. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $56.42.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.62%. Bank of New York Mellon’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.23 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were issued a $0.42 dividend. The ex-dividend date was Friday, January 19th. This represents a $1.68 annualized dividend and a yield of 3.04%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 42.32%.

About Bank of New York Mellon

(Free Report)

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.

Featured Stories

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.