Robinson Value Management Ltd. Sells 190 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Robinson Value Management Ltd. cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,780 shares of the bank’s stock after selling 190 shares during the period. Robinson Value Management Ltd.’s holdings in Bank of New York Mellon were worth $1,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. lifted its position in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Finally, Grove Bank & Trust lifted its position in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.42 during midday trading on Monday, hitting $75.78. The company’s stock had a trading volume of 539,451 shares, compared to its average volume of 3,874,294. The Bank of New York Mellon Co. has a one year low of $41.28 and a one year high of $78.03. The company’s fifty day simple moving average is $69.81 and its two-hundred day simple moving average is $63.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $56.67 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 2.48%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now 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 legal filing with the SEC, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BK. UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on 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. Wells Fargo & Company increased 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, October 14th. The Goldman Sachs Group increased their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley increased 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 assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon 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.