Kentucky Retirement Systems Sells 698 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kentucky Retirement Systems decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,712 shares of the bank’s stock after selling 698 shares during the period. Kentucky Retirement Systems’ holdings in Bank of New York Mellon were worth $3,896,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP boosted its stake in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. Zacks Investment Management purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $62,589,000. State Street Corp grew its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Bank of New York Mellon by 248.3% during the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after buying an additional 612,287 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BK shares. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research downgraded 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 target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Trading Up 0.1 %

Shares of BK opened at $87.29 on Friday. The company’s fifty day simple moving average is $82.04 and its 200-day simple moving average is $76.26. The company has a market cap of $63.46 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.00 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.93 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon Company 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.