Ontario Teachers Pension Plan Board Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Ontario Teachers Pension Plan Board lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,366 shares of the bank’s stock after selling 305 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Bank of New York Mellon were worth $950,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BK. Graney & King LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $35,000. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $39,000. TCTC Holdings LLC raised its stake in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Finally, Friedenthal Financial acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.64.

Bank of New York Mellon Trading Down 2.7 %

NYSE BK opened at $75.68 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $54.09 and a one year high of $90.34. The company has a 50-day simple moving average of $83.08 and a 200-day simple moving average of $80.23. The firm has a market capitalization of $54.34 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.