New York State Teachers Retirement System Sells 11,079 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

New York State Teachers Retirement System reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 666,419 shares of the bank's stock after selling 11,079 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Bank of New York Mellon worth $55,893,000 as of its most recent SEC filing.

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

Bank of New York Mellon Trading Down 0.2%

Shares of BK stock traded down $0.16 during trading hours on Thursday, reaching $91.93. 2,407,634 shares of the stock were exchanged, compared to its average volume of 4,111,551. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The Bank of New York Mellon Corporation has a 12-month low of $59.19 and a 12-month high of $93.03. The company's 50-day moving average price is $87.79 and its 200-day moving average price is $83.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. As a group, equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Analyst Ratings Changes

A number of research analysts have weighed in on BK shares. Morgan Stanley increased their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Evercore ISI increased their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research note on Wednesday. Citigroup increased their price objective 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. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their target price for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, 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 research report on Monday, March 17th. Seven investment 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, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus price target of $92.08.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider directly owned 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock worth $7,869,795 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

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.