Dai ichi Life Insurance Company Ltd Sells 12,000 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Dai ichi Life Insurance Company Ltd decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 16.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,663 shares of the bank’s stock after selling 12,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Bank of New York Mellon were worth $4,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of Bank of New York Mellon by 13.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock worth $861,000 after acquiring an additional 1,803 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Bank of New York Mellon by 20.6% during the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock valued at $1,421,000 after purchasing an additional 4,210 shares during the period. Hancock Whitney Corp grew its holdings in shares of Bank of New York Mellon by 3.9% in the first quarter. Hancock Whitney Corp now owns 15,373 shares of the bank’s stock worth $886,000 after purchasing an additional 576 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Bank of New York Mellon by 15.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 40,980 shares of the bank’s stock worth $2,361,000 after buying an additional 5,505 shares during the period. Finally, Swedbank AB bought a new stake in Bank of New York Mellon during the 1st quarter valued at about $35,514,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated 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 sale, the vice president now 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 through the SEC website. Also, 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 shares were 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. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BK. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Evercore ISI lifted their price objective on 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. Finally, Barclays upped their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.15.

Bank of New York Mellon Stock Up 0.1 %

BK stock opened at $81.27 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $81.62. The stock has a market capitalization of $59.09 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The firm has a 50 day moving average of $75.46 and a 200 day moving average of $67.10.

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, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during 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%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.31%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.