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

Parnassus Investments LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,202,990 shares of the bank’s stock after selling 493,789 shares during the period. Parnassus Investments LLC owned about 0.44% of Bank of New York Mellon worth $230,167,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Stanley Laman Group Ltd. boosted its holdings 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 worth $445,000 after purchasing an additional 135 shares during the period. Avidian Wealth Enterprises LLC lifted its position in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after buying an additional 142 shares during the period. Sigma Planning Corp grew its position 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. Finally, Grove Bank & Trust raised its stake in Bank of New York Mellon by 28.8% during the third 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. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.5 %

Shares of NYSE:BK opened at $78.65 on Tuesday. The stock has a market capitalization of $57.18 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $46.71 and a 1-year high of $80.29. The company has a 50 day moving average price of $74.21 and a 200 day moving average price of $66.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share 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 analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.39%. Bank of New York Mellon’s payout ratio is presently 40.87%.

Analyst Ratings Changes

A number of brokerages have commented on BK. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays upped their price objective on 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. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group upped their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.23.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on 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 owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.