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

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 55,322 shares of the bank’s stock after selling 4,751 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Bank of New York Mellon were worth $3,976,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $32,000. Family Firm Inc. purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $40,000. Fortitude Family Office LLC raised its position in shares of Bank of New York Mellon by 130.6% in 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 during the period. Finally, Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.9 %

Shares of Bank of New York Mellon stock opened at $78.83 on Friday. The business has a 50-day moving average of $77.82 and a 200-day moving average of $68.96. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $57.32 billion, a PE ratio of 17.14, a P/E/G ratio of 0.91 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $50.87 and a 1-year high of $82.72.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating 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 return on equity of 12.06% and a net margin of 9.44%. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was 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 approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. 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 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Evercore ISI raised their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Morgan Stanley raised Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $82.00 to $94.00 in a research report on Monday, December 9th. UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays raised their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.00.

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.