Public Employees Retirement System of Ohio Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

Public Employees Retirement System of Ohio lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 361,037 shares of the bank’s stock after selling 35,911 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Bank of New York Mellon were worth $20,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. boosted its stake in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after purchasing an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $28,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter worth about $32,000. Able Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $32,000. Finally, Hartford Financial Management Inc. raised its stake in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the transaction, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The disclosure for this sale can be found here. Insiders sold 36,858 shares of company stock worth $2,223,504 in the last ninety days. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $64.59 on Tuesday. The business has a 50 day moving average price of $60.50 and a 200 day moving average price of $57.64. The company has a market capitalization of $48.30 billion, a P/E ratio of 14.95, a PEG ratio of 1.16 and a beta of 1.09. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $65.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.58 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be given a $0.47 dividend. The ex-dividend date is Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.91%. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Wall Street Analysts Forecast Growth

BK has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.23.

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.