Teacher Retirement System of Texas Acquires 38,142 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Teacher Retirement System of Texas boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 452,420 shares of the bank's stock after purchasing an additional 38,142 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Bank of New York Mellon worth $23,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock valued at $33,000 after buying an additional 183 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank's stock worth $37,000 after purchasing an additional 754 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $38,000. Blue Trust Inc. increased its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank's stock valued at $45,000 after purchasing an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Bank of New York Mellon in the 3rd quarter worth approximately $49,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BK. Morgan Stanley increased their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, April 18th. Jefferies Financial Group lifted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Citigroup upped their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Bank of America boosted 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the firm's stock in a transaction 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 sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of the company's stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares of the company's stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.2 %

Shares of BK stock traded up $0.09 on Friday, hitting $58.44. The stock had a trading volume of 3,255,507 shares, compared to its average volume of 3,681,222. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.74. The company has a fifty day moving average price of $56.39 and a two-hundred day moving average price of $52.83. The firm has a market cap of $43.70 billion, a P/E ratio of 14.25, a PEG ratio of 1.25 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its 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 return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.39 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon's payout ratio is currently 40.98%.

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.