The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,698 shares of the bank’s stock after selling 1,719 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bank of New York Mellon were worth $9,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. United Services Automobile Association lifted its holdings in Bank of New York Mellon by 6.9% during the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 1,640 shares in the last quarter. Searle & CO. acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $234,000. Wakefield Asset Management LLLP purchased a new stake in Bank of New York Mellon during the 1st quarter worth approximately $3,740,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares during the last quarter. Finally, Janney Capital Management LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $243,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BK shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday. Barclays boosted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group lifted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods reissued 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 report on Monday. Finally, Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.23.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,928 shares of company stock valued at $6,475,216. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 1.1 %

Shares of BK stock traded down $0.70 on Tuesday, reaching $65.01. 5,197,529 shares of the stock were exchanged, compared to its average volume of 3,760,330. The company has a market capitalization of $48.62 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.31 and a beta of 1.09. The business’s 50 day moving average price is $59.51 and its 200 day moving average price is $56.90. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $65.90.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.89% and a net margin of 9.40%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.49 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be given a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.89%. Bank of New York Mellon’s dividend payout ratio is 38.89%.

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.