Point72 Asia Singapore Pte. Ltd. Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Asia Singapore Pte. Ltd. reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 60.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,032 shares of the bank’s stock after selling 21,247 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Bank of New York Mellon were worth $1,008,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its holdings in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares during the last quarter. Stanley Laman Group Ltd. boosted its holdings in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after buying an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after buying an additional 142 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after buying an additional 143 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research analyst reports. UBS Group boosted 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 report on Tuesday, October 8th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. 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. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. 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.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Stock Up 0.2 %

BK stock opened at $81.87 on Monday. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. 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 current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $76.07 and its 200 day moving average is $67.59.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

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.