Diversified Trust Co Sells 1,163 Shares of Bank of New York Mellon Corp (NYSE:BK)

Diversified Trust Co lowered its stake in Bank of New York Mellon Corp (NYSE:BK) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,033 shares of the bank’s stock after selling 1,163 shares during the quarter. Diversified Trust Co’s holdings in Bank of New York Mellon were worth $345,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BK. Wellington Management Group LLP increased its stake in shares of Bank of New York Mellon by 60.2% in the 1st quarter. Wellington Management Group LLP now owns 279,707 shares of the bank’s stock valued at $9,421,000 after acquiring an additional 105,110 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Bank of New York Mellon by 267.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 140,371 shares of the bank’s stock valued at $4,728,000 after purchasing an additional 102,121 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Bank of New York Mellon by 36.5% during the 1st quarter. Meeder Asset Management Inc. now owns 8,249 shares of the bank’s stock valued at $278,000 after purchasing an additional 2,204 shares in the last quarter. AQR Capital Management LLC increased its stake in Bank of New York Mellon by 69.3% during the 1st quarter. AQR Capital Management LLC now owns 894,922 shares of the bank’s stock valued at $30,141,000 after purchasing an additional 366,216 shares in the last quarter. Finally, Ameritas Investment Company LLC boosted its holdings in Bank of New York Mellon by 146.8% during the 1st quarter. Ameritas Investment Company LLC now owns 1,256 shares of the bank’s stock worth $42,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.

A number of equities analysts have issued reports on the stock. Bank of America lifted their price objective on shares of Bank of New York Mellon from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. ValuEngine raised shares of Bank of New York Mellon from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Seaport Global Securities assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 8th. They set a “buy” rating and a $51.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bank of New York Mellon from $41.00 to $40.00 and set a “hold” rating on the stock in a report on Thursday, July 9th. Finally, Morgan Stanley cut their price objective on shares of Bank of New York Mellon from $42.00 to $38.00 and set an “underweight” rating on the stock in a report on Monday, October 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.56.

In other Bank of New York Mellon news, EVP Mitchell E. Harris sold 35,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $35.75, for a total transaction of $1,251,250.00. Following the sale, the executive vice president now directly owns 145,425 shares of the company’s stock, valued at $5,198,943.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.12% of the stock is owned by corporate insiders.

Shares of NYSE:BK opened at $38.02 on Friday. The company has a market capitalization of $33.68 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. Bank of New York Mellon Corp has a fifty-two week low of $26.40 and a fifty-two week high of $51.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.68 and a current ratio of 0.68. The company’s 50-day moving average is $35.87 and its 200 day moving average is $36.47.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 10.34%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts predict that Bank of New York Mellon Corp will post 3.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, October 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.85%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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