The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293,290 shares of the bank's stock after selling 23,690 shares during the period. Public Employees Retirement System of Ohio's holdings in Bank of New York Mellon were worth $22,533,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BK. Janney Montgomery Scott LLC boosted its position in Bank of New York Mellon by 11.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 142,423 shares of the bank's stock valued at $10,942,000 after buying an additional 14,675 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Bank of New York Mellon by 33.4% in the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank's stock valued at $456,000 after purchasing an additional 1,488 shares in the last quarter. New Century Financial Group LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $342,000. CX Institutional raised its holdings in shares of Bank of New York Mellon by 1.8% in the 4th quarter. CX Institutional now owns 8,588 shares of the bank's stock valued at $660,000 after purchasing an additional 153 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $342,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BK shares. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price target for the company from $87.00 to $97.00 in a report on Wednesday. Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Finally, Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.08.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $0.23 during mid-day trading on Thursday, reaching $89.03. 3,767,631 shares of the company traded hands, compared to its average volume of 4,065,958. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $90.63. The company has a market capitalization of $63.69 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The firm's fifty day moving average is $82.21 and its two-hundred day moving average is $82.06.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Bank of New York Mellon Company 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.