The stock is trading at $51.45 which is slightly above the 50 day moving average which is $48.27 and which is just a bit higher than the 200 day moving average of $47.32. The 50 day moving average moved up $3.18 whereas the 200 day moving average was up $4.13 or +8.73%. 3,029K shares changed hands on Thursday. Trading volume was down 46.66% under the stocks average daily volume.
Bank of New York Mellon Corpora (NYSE:BK) has been the object of insider selling activity recently. J. Kevin Mccarthy, SEVP & General Counsel let go of $476,400 worth of shares at an average price of $47.64 on Mon the 24th. The SEVP & General Counsel now owns $4,787,201 of the stock per an SEC filing yesterday. Thomas P. Gibbons, Vice Chairman disclosed the sale of 102,174 shares of BK stock. The shares were sold on April 24th for an average price of $47.71. The Vice Chairman now owns $12,949,234 of the stock per the Form 4 SEC filing.
Gerald L. Hassell, Chairman reported the sale of 100,000 shares. The shares were purchased at an average price of $48.11. Hassell now owns $42,592,938 of the stock according to the SEC filing.
These funds have also shifted positions in (BK). Piedmont Investment Advisors LLC divested its holdings by shedding 190,958 shares a decrease of 23.1% from 12/31/2016 to 03/31/2017. Piedmont Investment Advisors LLC now controls 635,901 shares valued at $30,034,000. The total value of its holdings decreased 23.3%. Shamrock Asset Management LLC reduced its ownership by selling 29 shares a decrease of 7.0%. Shamrock Asset Management LLC now holds 387 shares with a value of $18,000. The value of the position overall is down by 10.0%.
Hm Payson & Co trimmed its position by selling 900 shares a decrease of 4.4% as of 03/31/2017. Hm Payson & Co claims 19,768 shares worth $934,000. The total value of its holdings decreased 4.6%. As of quarter end Mackenzie Financial Corp had disposed of a total of 1,941 shares trimming its holdings by 13.1%. The value of the company’s investment in Bank of New York Mellon Corpora decreased from $700,000 to $606,000 decreasing 13.4% for the reporting period.
On July 11 Jefferies held the company rating at “Hold” but moved up the price target to $56.00 from $38.00. On October 21 the stock rating was upgraded from “” to “Outperform” and a price target of $50.00 was set by Morgan Stanley.
On October 21 the company was upgraded to “Outperform” from “Market Perform” with a current price target of $50.00 in an announcement from Keefe Bruyette & Woods. Equity analyst Keefe Bruyette & Woods raised the price target and upgraded the stock on October 21 changing the price target from $43.00 to $50.00 and moving the rating from “Market Perform” to “Outperform”.
September 23 investment analysts at CLSA left the company rating at “Outperform” but raised the price target from $42.00 to $47.00. September 9 investment analysts at Deutsche Bank held the stock rating at “Buy” but raised the price expectation to $51.00 from $46.00.
The company is so far trading down by -0.04% since yesterday’s close of $51.47. Bank of New York Mellon Corpora announced a dividend for shareholders that was paid on Friday May 12th, 2017. The dividend payment was $0.190 per share for the quarter which is $0.76 annualized. This dividend represents a yield of $1.46. The ex-dividend date was Friday the 28th of April 2017.
The P/E ratio is currently 15.83 and market capitalization is 53.50B. In the latest earnings report the EPS was $3.25 and is expected to be $3.51 for the current year with 1,039,877,000 shares outstanding. Next quarter’s EPS is expected be $0.94 and the next full year EPS is projected to be $3.91.
The Bank of New York Mellon Corporation, launched on February 9, 2007, is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits. As of December 31, 2016, the Company had $29.9 trillion in assets under custody and/or administration and $1.6 trillion in assets under management..Advertisement