M&G Plc Has $67.85 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

M&G Plc cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.2% in the third quarter, HoldingsChannel reports. The fund owned 942,376 shares of the bank’s stock after selling 41,684 shares during the quarter. M&G Plc’s holdings in Bank of New York Mellon were worth $67,851,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $32,000. Family Firm Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Finally, Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $78.22 on Thursday. The business has a fifty day simple moving average of $72.56 and a 200 day simple moving average of $64.94. 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 firm has a market capitalization of $57.72 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a one year low of $44.32 and a one year high of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $4.52 billion. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 40.87%.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BK. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Morgan Stanley boosted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.69.

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.