Bank of New York Mellon Corp (BK) Shares Sold by New York State Teachers Retirement System

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New York State Teachers Retirement System cut its position in Bank of New York Mellon Corp (NYSE:BK) by 2.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,420,900 shares of the bank’s stock after selling 38,058 shares during the period. New York State Teachers Retirement System’s holdings in Bank of New York Mellon were worth $71,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. CX Institutional purchased a new position in Bank of New York Mellon during the 4th quarter valued at $104,000. Ipswich Investment Management Co. Inc. purchased a new position in Bank of New York Mellon during the 4th quarter valued at $40,000. Steward Partners Investment Advisory LLC increased its position in Bank of New York Mellon by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,929 shares of the bank’s stock valued at $749,000 after purchasing an additional 383 shares during the period. Personal Capital Advisors Corp increased its position in Bank of New York Mellon by 2.4% during the 4th quarter. Personal Capital Advisors Corp now owns 119,112 shares of the bank’s stock valued at $5,607,000 after purchasing an additional 2,742 shares during the period. Finally, Hudson Capital Management LLC increased its position in Bank of New York Mellon by 10.1% during the 4th quarter. Hudson Capital Management LLC now owns 11,494 shares of the bank’s stock valued at $541,000 after purchasing an additional 1,053 shares during the period. 87.88% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Trian Fund Management, L.P. sold 621,807 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.11, for a total transaction of $31,158,748.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward P. Garden sold 171,960 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $52.28, for a total transaction of $8,990,068.80. The disclosure for this sale can be found here. Insiders sold a total of 853,244 shares of company stock worth $43,210,239 over the last ninety days. Insiders own 1.71% of the company’s stock.

BK has been the topic of a number of research analyst reports. ValuEngine raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Royal Bank of Canada reduced their price objective on shares of Bank of New York Mellon to $52.00 and set a “positive” rating on the stock in a research report on Thursday, April 18th. Zacks Investment Research downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Deutsche Bank boosted their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Vining Sparks reissued a “buy” rating and set a $55.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.75.

Shares of NYSE:BK traded up $0.25 during midday trading on Thursday, reaching $46.76. The company’s stock had a trading volume of 53,391 shares, compared to its average volume of 4,890,065. The company has a market capitalization of $45.15 billion, a PE ratio of 11.10, a P/E/G ratio of 1.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.68 and a quick ratio of 0.68. Bank of New York Mellon Corp has a 12-month low of $43.67 and a 12-month high of $58.22.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. Equities analysts anticipate that Bank of New York Mellon Corp will post 4.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Monday, April 29th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, April 26th. Bank of New York Mellon’s dividend payout ratio is presently 26.60%.

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Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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