MetLife Investment Management LLC Has $13.79 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

MetLife Investment Management LLC trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.8% during the third quarter, Holdings Channel.com reports. The firm owned 191,905 shares of the bank’s stock after selling 7,576 shares during the period. MetLife Investment Management LLC’s holdings in Bank of New York Mellon were worth $13,790,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its position in Bank of New York Mellon by 13.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock worth $861,000 after purchasing an additional 1,803 shares during the period. Tidal Investments LLC raised 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 worth $1,421,000 after buying an additional 4,210 shares during the last quarter. Hancock Whitney Corp lifted its holdings in 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 valued at $886,000 after buying an additional 576 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Bank of New York Mellon by 15.5% in the first quarter. Citizens Financial Group Inc. RI now owns 40,980 shares of the bank’s stock valued at $2,361,000 after acquiring an additional 5,505 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Bank of New York Mellon during the 1st quarter worth $35,514,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.15.

Bank of New York Mellon Stock Up 0.6 %

Shares of BK stock opened at $81.75 on Thursday. The Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $82.08. 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 firm has a fifty day moving average of $75.67 and a 200-day moving average of $67.20. The company has a market capitalization of $59.44 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 directly owns 157,455 shares of the company’s stock, valued at approximately $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 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.