The Bank of New York Mellon Co. (NYSE:BK) Stake Reduced by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,849 shares of the bank’s stock after selling 2,271 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Bank of New York Mellon were worth $1,570,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BK. Blair William & Co. IL grew its position in Bank of New York Mellon by 1.6% in the first quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock worth $1,233,000 after buying an additional 338 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth $6,087,000. Intech Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 505.9% in the 1st quarter. Intech Investment Management LLC now owns 92,737 shares of the bank’s stock worth $5,344,000 after acquiring an additional 77,431 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Bank of New York Mellon by 160,472.7% during the first quarter. Acadian Asset Management LLC now owns 52,989 shares of the bank’s stock worth $3,051,000 after purchasing an additional 52,956 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of Bank of New York Mellon by 180.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,404 shares of the bank’s stock valued at $1,233,000 after purchasing an additional 13,779 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Bank of New York Mellon Stock Up 0.9 %

Shares of Bank of New York Mellon stock opened at $78.29 on Friday. The stock has a 50-day simple moving average of $73.99 and a 200-day simple moving average of $65.95. The Bank of New York Mellon Co. has a 52-week low of $46.04 and a 52-week high of $80.29. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate 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 research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

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.