Atom Investors LP Sells 27,433 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Atom Investors LP lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 120,564 shares of the bank’s stock after selling 27,433 shares during the period. Bank of New York Mellon makes up about 0.9% of Atom Investors LP’s portfolio, making the stock its 16th largest holding. Atom Investors LP’s holdings in Bank of New York Mellon were worth $8,664,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BK. Point72 Hong Kong Ltd increased its stake in Bank of New York Mellon by 1,340.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 15,400 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 14,331 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Bank of New York Mellon during the 3rd quarter valued at approximately $7,518,000. Ironwood Investment Counsel LLC acquired a new position in Bank of New York Mellon during the 3rd quarter valued at approximately $229,000. Rockefeller Capital Management L.P. increased its stake in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock valued at $2,118,000 after purchasing an additional 250 shares in the last quarter. Finally, Financial Counselors Inc. acquired a new position in Bank of New York Mellon during the 3rd quarter valued at approximately $293,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BK shares. Barclays upped their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI upped 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 report on Monday, October 14th. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $81.87 on Monday. The company’s fifty day moving average price is $76.07 and its 200 day moving average price is $67.59. The Bank of New York Mellon Co. has a 1 year low of $47.44 and a 1 year high of $82.72. The company has a market capitalization of $59.53 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % 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 Company 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.