The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Strs Ohio

Strs Ohio lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 619,835 shares of the bank’s stock after selling 200,876 shares during the period. Strs Ohio owned 0.08% of Bank of New York Mellon worth $32,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Quent Capital LLC lifted its position in shares of Bank of New York Mellon by 3.8% during the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after purchasing an additional 182 shares during the last quarter. Hartford Financial Management Inc. lifted its position in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its position in shares of Bank of New York Mellon by 0.8% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after purchasing an additional 221 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its position in shares of Bank of New York Mellon by 1.7% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock worth $717,000 after purchasing an additional 245 shares during the last quarter. Finally, Arjuna Capital lifted its position in shares of Bank of New York Mellon by 0.5% during the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock worth $2,066,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $55.09 on Tuesday. The company has a 50-day simple moving average of $55.77 and a 200-day simple moving average of $51.00. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $41.48 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. On average, analysts predict that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.05%. Bank of New York Mellon’s dividend payout ratio is currently 42.32%.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BK. UBS Group lifted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target for the company in a research report on Monday, December 18th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.72.

About Bank of New York Mellon

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.