The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,212,718 shares of the bank's stock after selling 8,928 shares during the period. California State Teachers Retirement System owned about 0.17% of Bank of New York Mellon worth $93,173,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Czech National Bank grew its holdings in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after purchasing an additional 7,316 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after buying an additional 82,671 shares during the last quarter. Fifth Third Bancorp increased its position in Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after buying an additional 7,935 shares during the period. Natixis Advisors LLC lifted its stake in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after buying an additional 17,457 shares during the last quarter. Finally, Western Financial Corp CA acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $342,000. Institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BK shares. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Evercore ISI increased their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Truist Financial reduced their price target on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six investment 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Trading Up 0.4 %

Bank of New York Mellon stock opened at $78.94 on Tuesday. The firm has a market cap of $56.68 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1 year low of $56.08 and a 1 year high of $90.34. The firm's 50 day moving average price is $81.50 and its two-hundred day moving average price is $80.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results 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 business had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company's quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

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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