Richard W. Paul & Associates LLC Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

Richard W. Paul & Associates LLC decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 6,518 shares of the bank’s stock after selling 160 shares during the period. Richard W. Paul & Associates LLC’s holdings in Bank of New York Mellon were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Entropy Technologies LP purchased a new position in shares of Bank of New York Mellon in the first quarter valued at about $1,027,000. QRG Capital Management Inc. boosted its stake in Bank of New York Mellon by 6.9% in the 1st quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after purchasing an additional 8,204 shares during the period. Wakefield Asset Management LLLP purchased a new stake in Bank of New York Mellon during the 1st quarter valued at approximately $3,740,000. Bessemer Group Inc. raised its position in shares of Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after buying an additional 17,312 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after buying an additional 421,161 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BK shares. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays lifted their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price objective 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. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This 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 this link. In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Down 1.4 %

BK stock opened at $76.67 on Friday. The Bank of New York Mellon Co. has a twelve month low of $41.15 and a twelve month high of $78.03. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. 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 firm’s fifty day simple moving average is $69.81 and its two-hundred day simple moving average is $63.07.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

About Bank of New York Mellon

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.