KBC Group NV Sells 716,314 Shares of The Bank of New York Mellon Co. (NYSE:BK)

KBC Group NV lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 28.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,792,853 shares of the bank’s stock after selling 716,314 shares during the period. KBC Group NV owned about 0.24% of Bank of New York Mellon worth $128,834,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BK. Marshall Wace LLP lifted its holdings in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after acquiring an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. M&G Plc purchased a new stake in Bank of New York Mellon during the 1st quarter valued at $55,543,000. Swedbank AB bought a new stake in Bank of New York Mellon in the first quarter worth $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after buying an additional 574,319 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK opened at $77.61 on Thursday. The company has a market capitalization of $56.43 billion, a PE ratio of 16.87, a P/E/G ratio of 0.90 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12-month low of $46.00 and a 12-month high of $80.29. The business’s fifty day simple moving average is $73.36 and its 200-day simple moving average is $65.57.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BK. Morgan Stanley lifted their price target on shares of 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. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. Barclays boosted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI increased their target price on 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.08.

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.