678,859 Shares in The Bank of New York Mellon Corporation $BK Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems ET Al purchased 678,859 shares of The Bank of New York Mellon, valued at approximately $61.85 million, making up around 0.09% of the company's total shares as of their recent SEC filing.
• Bank of New York Mellon recently announced a quarterly dividend of $0.53 per share, with an annualized yield of 2.0%, scheduled to be paid on November 7th to investors of record by October 27th.
• Analysts have raised their price targets for Bank of New York Mellon, with estimates now ranging up to $124.00, reflecting a consensus average target price of $109.62 for the stock.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 678,859 shares of the bank's stock, valued at approximately $61,851,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.09% of Bank of New York Mellon as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $220,000. GAMMA Investing LLC increased its holdings in Bank of New York Mellon by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank's stock valued at $1,400,000 after purchasing an additional 2,168 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bank of New York Mellon by 29.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock valued at $18,740,000 after purchasing an additional 50,368 shares in the last quarter. Blue Trust Inc. raised its position in Bank of New York Mellon by 134.9% in the 1st quarter. Blue Trust Inc. now owns 4,414 shares of the bank's stock valued at $370,000 after purchasing an additional 2,535 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in Bank of New York Mellon in the first quarter worth $42,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 0.9%

BK opened at $105.77 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The company has a market cap of $74.59 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. The firm has a 50 day simple moving average of $105.59 and a 200 day simple moving average of $94.54. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 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 Friday, November 7th. Investors of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon's payout ratio is 30.59%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BK shares. Evercore ISI raised their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday. Weiss Ratings reiterated a "buy (b+)" rating on shares of Bank of New York Mellon in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $109.62.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

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.

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