New York State Common Retirement Fund Has $68.01 Million Position in The Bank of New York Mellon Corporation (NYSE:BK)

New York State Common Retirement Fund reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 810,834 shares of the bank's stock after selling 66,235 shares during the period. New York State Common Retirement Fund owned 0.11% of Bank of New York Mellon worth $68,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BK. Norges Bank purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $1,150,462,000. FMR LLC grew its holdings in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after acquiring an additional 1,385,434 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president owned 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $93.70 on Monday. The company has a market capitalization of $67.04 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $93.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The company's fifty day moving average price is $89.60 and its 200 day moving average price is $84.66.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The business's revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BK. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus price target of $92.08.

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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