Sigma Planning Corp Reduces Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Sigma Planning Corp trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 17.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,860 shares of the bank’s stock after selling 1,058 shares during the quarter. Sigma Planning Corp’s holdings in Bank of New York Mellon were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kistler Tiffany Companies LLC boosted its stake in shares of Bank of New York Mellon by 4.9% in the second quarter. Kistler Tiffany Companies LLC now owns 4,764 shares of the bank’s stock valued at $212,000 after purchasing an additional 224 shares during the period. King Luther Capital Management Corp boosted its stake in shares of Bank of New York Mellon by 0.6% in the second quarter. King Luther Capital Management Corp now owns 38,109 shares of the bank’s stock valued at $1,697,000 after purchasing an additional 224 shares during the period. Pinkerton Retirement Specialists LLC raised its holdings in Bank of New York Mellon by 0.4% in the second quarter. Pinkerton Retirement Specialists LLC now owns 63,013 shares of the bank’s stock valued at $2,805,000 after acquiring an additional 240 shares in the last quarter. Laurel Wealth Advisors Inc. raised its holdings in Bank of New York Mellon by 1.7% in the first quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock valued at $717,000 after acquiring an additional 245 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in Bank of New York Mellon by 4.9% in the second quarter. McIlrath & Eck LLC now owns 5,711 shares of the bank’s stock valued at $254,000 after acquiring an additional 268 shares in the last quarter. 81.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction 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 can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 0.1 %

Shares of Bank of New York Mellon stock opened at $55.06 on Wednesday. The company’s fifty day simple moving average is $52.45 and its 200-day simple moving average is $47.13. The company has a market cap of $42.34 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.15 and a beta of 1.12. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $56.42.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.16. The firm had revenue of $4.31 billion for 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%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.21 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 annualized dividend and a yield of 3.05%. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BK shares. UBS Group upped 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 report on Tuesday, January 9th. Bank of America dropped their target price on shares of Bank of New York Mellon from $55.00 to $53.00 in a report on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating on the stock in a report on Wednesday, October 11th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a report on Monday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Hold” and a consensus price target of $53.75.

View Our Latest Research Report on BK

Bank of New York Mellon Profile

(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.

Further Reading

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

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