Teachers Retirement System of The State of Kentucky Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,671 shares of the bank’s stock after selling 651 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bank of New York Mellon were worth $4,200,000 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 the stock. Tower Research Capital LLC TRC lifted its position in shares of Bank of New York Mellon by 147.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 60,014 shares of the bank’s stock valued at $4,611,000 after acquiring an additional 35,783 shares during the period. Transce3nd LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $33,000. Mirova purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $1,319,000. MML Investors Services LLC raised its holdings in Bank of New York Mellon by 35.9% during the fourth quarter. MML Investors Services LLC now owns 238,509 shares of the bank’s stock worth $18,325,000 after purchasing an additional 62,952 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in Bank of New York Mellon by 0.4% during the fourth quarter. MetLife Investment Management LLC now owns 192,650 shares of the bank’s stock worth $14,801,000 after purchasing an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Price Performance

BK stock opened at $76.25 on Wednesday. The stock has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52-week low of $56.08 and a 52-week high of $90.34. The stock’s fifty day simple moving average is $82.28 and its 200-day simple moving average is $80.41.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the company earned $1.29 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup lifted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

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.