The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 756,145 shares of the bank’s stock after selling 19,633 shares during the quarter. New York State Teachers Retirement System’s holdings in Bank of New York Mellon were worth $54,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BK. Wealth Enhancement Advisory Services LLC grew 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 worth $3,112,000 after buying an additional 4,304 shares during the last quarter. Norden Group LLC bought a new position in Bank of New York Mellon during the 1st quarter worth $870,000. First Trust Direct Indexing L.P. grew 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 worth $1,493,000 after buying an additional 2,405 shares during the last quarter. Private Advisor Group LLC grew its stake in Bank of New York Mellon by 42.0% during the 1st quarter. Private Advisor Group LLC now owns 50,770 shares of the bank’s stock worth $2,925,000 after buying an additional 15,026 shares during the last quarter. Finally, Smith Group Asset Management LLC bought a new position in Bank of New York Mellon during the 1st quarter worth $14,428,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 0.8 %

Shares of Bank of New York Mellon stock opened at $75.93 on Thursday. The stock has a 50-day moving average price of $71.63 and a 200 day moving average price of $64.21. The company has a market cap of $56.78 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 1 year low of $42.18 and a 1 year high of $78.03.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BK shares. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Evercore ISI increased their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $76.69.

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.