Kentucky Retirement Systems Insurance Trust Fund Trims Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 48.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,901 shares of the bank's stock after selling 19,771 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Bank of New York Mellon were worth $1,753,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Analysts LLC increased its holdings in shares of Bank of New York Mellon by 3.7% in the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after buying an additional 119 shares during the last quarter. Cape Investment Advisory Inc. grew its position in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Syon Capital LLC increased its stake in Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after acquiring an additional 132 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Bank of New York Mellon by 0.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Bank of New York Mellon by 1.1% during the first quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after purchasing an additional 139 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.1%

Shares of Bank of New York Mellon stock traded up $0.11 during trading on Thursday, reaching $90.11. 4,527,836 shares of the stock were exchanged, compared to its average volume of 4,098,417. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The firm has a market cap of $64.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08. The Bank of New York Mellon Corporation has a 1 year low of $59.00 and a 1 year high of $92.64. The stock's fifty day moving average is $86.58 and its 200 day moving average is $83.51.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 sale, the executive vice president now owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BK shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley upped 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. Citigroup increased their target price 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. Finally, Evercore ISI boosted their price target 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

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.