State of New Jersey Common Pension Fund D Sells 30,967 Shares of The Bank of New York Mellon Co. (NYSE:BK)

State of New Jersey Common Pension Fund D lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,094 shares of the bank’s stock after selling 30,967 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of The Bank of New York Mellon worth $17,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BK. AQR Capital Management LLC boosted its position in The Bank of New York Mellon by 432.5% in the second quarter. AQR Capital Management LLC now owns 4,765,559 shares of the bank’s stock valued at $178,470,000 after buying an additional 3,870,637 shares in the last quarter. Man Group plc boosted its position in The Bank of New York Mellon by 147.5% in the second quarter. Man Group plc now owns 4,671,209 shares of the bank’s stock valued at $180,542,000 after buying an additional 2,783,938 shares in the last quarter. AJO LP boosted its position in The Bank of New York Mellon by 498.5% in the second quarter. AJO LP now owns 3,220,465 shares of the bank’s stock valued at $124,470,000 after buying an additional 2,682,416 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of The Bank of New York Mellon by 24.5% during the second quarter. Nuveen Asset Management LLC now owns 9,686,479 shares of the bank’s stock worth $374,382,000 after purchasing an additional 1,904,569 shares in the last quarter. Finally, PGGM Investments acquired a new position in shares of The Bank of New York Mellon during the third quarter worth approximately $44,345,000. Hedge funds and other institutional investors own 82.08% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Bank of America upped their target price on shares of The Bank of New York Mellon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Citigroup reduced their target price on shares of The Bank of New York Mellon from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. UBS Group reduced their target price on shares of The Bank of New York Mellon from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Bank of New York Mellon from $41.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Finally, Morgan Stanley boosted their price target on shares of The Bank of New York Mellon from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, October 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.68.

NYSE BK opened at $34.32 on Friday. The Bank of New York Mellon Co. has a 1 year low of $26.40 and a 1 year high of $51.60. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.65 and a quick ratio of 0.68. The firm has a market cap of $30.40 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 1.20 and a beta of 1.04. The company has a fifty day moving average price of $35.81 and a 200-day moving average price of $36.64.

The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 16th. The bank reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 3.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, October 28th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, October 27th. The Bank of New York Mellon’s dividend payout ratio is presently 30.85%.

About The Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.

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Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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