Geller Advisors LLC Sells 994 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Geller Advisors LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,001 shares of the bank’s stock after selling 994 shares during the quarter. Geller Advisors LLC’s holdings in Bank of New York Mellon were worth $1,581,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BK. United Advisor Group LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $595,000. Principal Financial Group Inc. boosted its position in Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after buying an additional 33,558 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after acquiring an additional 184,560 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 1.2 %

NYSE:BK opened at $80.51 on Monday. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $47.60 and a 1-year high of $82.72. The business’s 50-day moving average price is $76.97 and its two-hundred day moving average price is $68.36. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

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 for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Analysts Set New Price Targets

Several equities analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on shares of 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.77.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’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 in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.