Sicart Associates LLC Sells 5,000 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sicart Associates LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 50.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,000 shares of the bank’s stock after selling 5,000 shares during the quarter. Sicart Associates LLC’s holdings in Bank of New York Mellon were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BK. Wealth Enhancement Advisory Services LLC raised its stake in Bank of New York Mellon by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 54,013 shares of the bank’s stock valued at $3,112,000 after purchasing an additional 4,304 shares during the last quarter. Founders Financial Securities LLC acquired a new position in Bank of New York Mellon during the 1st quarter valued at $405,000. MV Capital Management Inc. raised its stake in Bank of New York Mellon by 15.1% during the 1st quarter. MV Capital Management Inc. now owns 1,818 shares of the bank’s stock valued at $105,000 after purchasing an additional 238 shares during the last quarter. Norden Group LLC acquired a new position in Bank of New York Mellon during the 1st quarter valued at $870,000. Finally, First Trust Direct Indexing L.P. raised its stake in Bank of New York Mellon by 10.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 25,915 shares of the bank’s stock valued at $1,493,000 after purchasing an additional 2,405 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BK shares. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Barclays increased their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Price Performance

Shares of BK traded up $0.17 during trading hours on Tuesday, hitting $76.68. The stock had a trading volume of 891,747 shares, compared to its average volume of 3,858,209. The company’s fifty day moving average is $71.19 and its two-hundred day moving average is $63.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 52 week low of $41.80 and a 52 week high of $78.03. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Insiders Place Their Bets

In other Bank of New York Mellon news, 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 transaction of $1,259,843.25. Following the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bank of New York Mellon news, 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 transaction of $1,259,843.25. Following the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % 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.