Greystone Financial Group LLC Has $11.04 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Greystone Financial Group LLC reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,604 shares of the bank’s stock after selling 20,141 shares during the period. Bank of New York Mellon accounts for approximately 2.0% of Greystone Financial Group LLC’s investment portfolio, making the stock its 19th biggest position. Greystone Financial Group LLC’s holdings in Bank of New York Mellon were worth $11,038,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BK. Marshall Wace LLP lifted its holdings in shares of Bank of New York Mellon by 99.4% during the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after buying an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after purchasing an additional 1,020,906 shares in the last quarter. M&G Plc bought a new stake in Bank of New York Mellon in the 1st quarter valued at about $55,543,000. Swedbank AB acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after purchasing an additional 574,319 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.6 %

Shares of BK stock opened at $76.37 on Thursday. The Bank of New York Mellon Co. has a twelve month low of $41.28 and a twelve month high of $78.03. The stock’s fifty day simple moving average is $70.55 and its 200 day simple moving average is $63.51. 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 firm has a market capitalization of $57.11 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 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 $76.47, 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 $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’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 sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. 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 equities research analysts recently issued reports on BK shares. Wells Fargo & Company increased their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. UBS Group increased their price objective 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. The Goldman Sachs Group boosted their target price 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, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target 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.