IVC Wealth Advisors LLC Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

IVC Wealth Advisors LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,308 shares of the bank’s stock after selling 160 shares during the period. IVC Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. McClarren Financial Advisors Inc. increased its stake in 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 purchasing 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 worth approximately $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on BK shares. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group upped their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Stock Down 1.7 %

NYSE:BK opened at $75.20 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $56.24 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $41.44 and a one year high of $78.03. The stock has a 50-day simple moving average of $70.98 and a 200 day simple moving average of $63.83.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents 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 currently owned by corporate insiders.

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.