State of Tennessee Treasury Department Has $33.08 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

State of Tennessee Treasury Department raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 19.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 635,566 shares of the bank’s stock after purchasing an additional 102,635 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Bank of New York Mellon worth $33,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its holdings in Bank of New York Mellon by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after purchasing an additional 144,162 shares during the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $813,701,000. Northern Trust Corp lifted its holdings in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares during the period. LSV Asset Management grew its stake in Bank of New York Mellon by 1.0% in the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock valued at $383,723,000 after purchasing an additional 72,880 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bank of New York Mellon by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock worth $351,775,000 after purchasing an additional 223,867 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BK shares. Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Bank of America boosted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Evercore ISI upped their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Get Our Latest Report on Bank of New York Mellon

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the firm’s 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 completion of the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Catherine Keating sold 54,070 shares of the company’s 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 in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon 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 transaction, the executive vice president now 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. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

NYSE BK traded up $0.23 on Monday, reaching $60.54. 969,265 shares of the company’s stock traded hands, compared to its average volume of 3,667,195. The stock has a market cap of $45.27 billion, a PE ratio of 14.71, a P/E/G ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $60.67. The stock has a 50-day simple moving average of $57.58 and a 200 day simple moving average of $54.95.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

Bank of New York Mellon Company Profile

(Free Report)

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.

Featured Stories

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.