New York State Common Retirement Fund Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

New York State Common Retirement Fund lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 877,069 shares of the bank’s stock after selling 124,768 shares during the quarter. New York State Common Retirement Fund’s holdings in Bank of New York Mellon were worth $67,385,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. United Advisor Group LLC bought a new stake in Bank of New York Mellon during the third quarter valued at about $595,000. Czech National Bank grew its holdings in 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 period. Principal Financial Group Inc. grew its holdings in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after purchasing an additional 14,916 shares during the period. Chase Investment Counsel Corp grew its holdings in Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after purchasing an additional 33,558 shares during the period. Finally, HighTower Advisors LLC grew its holdings in Bank of New York Mellon by 130.1% during the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BK opened at $88.36 on Thursday. The firm has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.99 and a beta of 1.08. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The business has a 50 day simple moving average of $81.71 and a 200-day simple moving average of $76.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $1.28 EPS. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts forecast 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 2.13%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

Several research firms have issued reports on BK. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Evercore ISI upped their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Citigroup upped their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

About Bank of New York Mellon

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.