First Trust Advisors LP Sells 65,910 Shares of Bank Of New York Mellon Corporation (The) (BK)

First Trust Advisors LP lessened its holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 419,880 shares of the bank’s stock after selling 65,910 shares during the quarter. First Trust Advisors LP’s holdings in Bank Of New York Mellon Corporation (The) were worth $22,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hudock Capital Group LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after purchasing an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after purchasing an additional 12 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after purchasing an additional 29 shares during the last quarter. Cpcm LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.4% in the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after purchasing an additional 35 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 1.1% in the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

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Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at $51.33 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $52.63 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.93 and a beta of 1.22.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. equities research analysts forecast that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Tuesday, October 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.07%.

In related news, Chairman Gerald L. Hassell sold 24,280 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total value of $1,255,033.20. Following the transaction, the chairman now owns 857,899 shares of the company’s stock, valued at $44,344,799.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total value of $9,947,301.00. Following the completion of the transaction, the insider now directly owns 455,927 shares in the company, valued at approximately $24,597,261.65. The disclosure for this sale can be found here. Insiders sold 17,785,299 shares of company stock worth $941,068,292 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

BK has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Zacks Investment Research lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. UBS Group AG (USA) lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $55.28.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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