State of Tennessee Department of Treasury Purchases 6,307 Shares of The Bank of New York Mellon Co. (NYSE:BK)

State of Tennessee Department of Treasury grew its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 324,440 shares of the bank's stock after purchasing an additional 6,307 shares during the period. State of Tennessee Department of Treasury's holdings in Bank of New York Mellon were worth $24,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Transce3nd LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $33,000. Graney & King LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $35,000. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC lifted its holdings in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after acquiring an additional 430 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded down $0.05 during trading on Friday, reaching $78.67. 2,507,972 shares of the stock were exchanged, compared to its average volume of 3,972,694. The Bank of New York Mellon Co. has a 12 month low of $56.08 and a 12 month high of $90.34. The firm has a market cap of $56.48 billion, a PE ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.03. The stock has a 50-day moving average price of $81.68 and a 200-day moving average price of $80.56. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Analyst Ratings Changes

BK has been the topic of several recent research reports. Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their target price on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.31.

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.