Hudock Inc. Sells 863 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Hudock Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 19.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,524 shares of the bank’s stock after selling 863 shares during the quarter. Hudock Inc.’s holdings in Bank of New York Mellon were worth $253,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stanley Laman Group Ltd. grew its stake in Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after acquiring an additional 135 shares during the period. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the period. Signaturefd LLC increased its holdings in shares of Bank of New York Mellon by 1.1% in the third quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock worth $1,034,000 after purchasing an additional 157 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Bank of New York Mellon by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after acquiring an additional 165 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of Bank of New York Mellon by 3.8% during the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BK shares. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group lifted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Down 0.4 %

Shares of NYSE:BK traded down $0.31 on Friday, hitting $76.19. 277,517 shares of the company traded hands, compared to its average volume of 3,860,464. The company has a market cap of $56.98 billion, a PE ratio of 17.71, a PEG ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $70.55 and a 200-day simple moving average of $63.51. The Bank of New York Mellon Co. has a 52 week low of $41.44 and a 52 week high of $78.03.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.47%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon 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 sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % 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.

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.