New York State Teachers Retirement System Grows Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• The New York State Teachers Retirement System increased its stake in The Bank of New York Mellon Corporation by 16%, owning over 773,364 shares worth approximately $70.5 million as of the latest SEC filing.
• Institutional investors currently hold around 85.31% of the bank's stock, reflecting substantial interest from various funds, including notable increases from firms like Sumitomo Mitsui DS Asset Management.
• The Bank of New York Mellon reported a net margin of 12.27% and earnings per share of $1.30, with analysts projecting a 6.96 EPS for the current fiscal year.

New York State Teachers Retirement System boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 16.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 773,364 shares of the bank's stock after purchasing an additional 106,945 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Bank of New York Mellon worth $70,461,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan purchased a new position in shares of Bank of New York Mellon during the first quarter worth about $1,035,000. TrueMark Investments LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth approximately $4,282,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bank of New York Mellon by 29.1% in the first 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 during the period. Formidable Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Bank of New York Mellon by 121.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank's stock worth $15,399,000 after purchasing an additional 100,810 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.7%

Shares of NYSE BK opened at $108.94 on Thursday. The stock has a market capitalization of $76.83 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The firm has a 50-day moving average price of $105.45 and a 200 day moving average price of $94.16. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The company had revenue of $4.38 billion for the quarter. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BK. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. TD Cowen began coverage on shares of Bank of New York Mellon in a report on Thursday, September 25th. They issued a "buy" rating on the stock. Citigroup boosted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Finally, Truist Financial lifted their price objective on Bank of New York Mellon from $109.00 to $118.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.77.

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.

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