New York State Common Retirement Fund Has $61.56 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

New York State Common Retirement Fund lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,182,785 shares of the bank’s stock after selling 79,980 shares during the quarter. New York State Common Retirement Fund’s holdings in Bank of New York Mellon were worth $61,564,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. increased its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after acquiring an additional 754 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon in the third quarter worth about $38,000. Blue Trust Inc. increased its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bank of New York Mellon during the third quarter worth about $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BK shares. UBS Group increased their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Evercore ISI increased their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Citigroup increased their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank of America raised their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction 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 transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The stock was 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 in the company, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on Thursday, April 18th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock worth $5,459,897 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $57.45 on Wednesday. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The stock has a market cap of $43.25 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.23 and a beta of 1.12. The business has a 50 day moving average of $55.86 and a 200-day moving average of $51.58. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

About Bank of New York Mellon

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.