Kentucky Retirement Systems Has $3.69 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Kentucky Retirement Systems reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 8.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,410 shares of the bank’s stock after selling 4,943 shares during the quarter. Kentucky Retirement Systems’ holdings in Bank of New York Mellon were worth $3,694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in Bank of New York Mellon during the second quarter worth $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Citigroup increased their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.23.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 0.9 %

Shares of BK opened at $78.29 on Friday. The company has a market capitalization of $56.92 billion, a PE ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.07. The stock’s 50-day moving average price is $73.99 and its two-hundred day moving average price is $65.95. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12 month low of $46.04 and a 12 month high of $80.29.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

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.