Illinois Municipal Retirement Fund Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Illinois Municipal Retirement Fund raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 451,889 shares of the bank's stock after acquiring an additional 57,211 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Bank of New York Mellon worth $23,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. 1900 Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $232,000. RWA Wealth Partners LLC boosted its position in Bank of New York Mellon by 171.1% during the fourth quarter. RWA Wealth Partners LLC now owns 13,404 shares of the bank's stock valued at $698,000 after buying an additional 8,459 shares during the period. Sage Mountain Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $242,000. Stock Yards Bank & Trust Co. purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $224,000. Finally, Telemus Capital LLC boosted its holdings in shares of Bank of New York Mellon by 33.0% during the fourth quarter. Telemus Capital LLC now owns 20,693 shares of the bank's stock worth $1,077,000 after purchasing an additional 5,129 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the company's stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, January 9th. Royal Bank of Canada reissued a "sector perform" rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Citigroup increased their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.17.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded up $0.87 on Monday, hitting $57.16. 2,936,326 shares of the company's stock were exchanged, compared to its average volume of 4,010,902. The stock has a market capitalization of $43.03 billion, a PE ratio of 13.94, a PEG ratio of 1.21 and a beta of 1.12. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The company has a 50-day simple moving average of $55.79 and a 200-day simple moving average of $51.48. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the firm posted $1.13 EPS. Bank of New York Mellon's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. Bank of New York Mellon's payout ratio is presently 40.98%.

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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