The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Graypoint LLC

Graypoint LLC decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,140 shares of the bank’s stock after selling 846 shares during the quarter. Graypoint LLC’s holdings in Bank of New York Mellon were worth $549,000 at the end of the most recent reporting period.

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

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BK shares. Wells Fargo & Company upped their target price on Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley decreased their price objective on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $82.64.

Bank of New York Mellon Price Performance

NYSE:BK opened at $75.55 on Friday. The firm has a market cap of $54.93 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The stock has a 50 day moving average of $78.56 and a two-hundred day moving average of $71.62. The Bank of New York Mellon Co. has a 12 month low of $52.21 and a 12 month 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.

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

Bank of New York Mellon 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.