New York State Common Retirement Fund Has $71.99 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

New York State Common Retirement Fund lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,001,837 shares of the bank’s stock after selling 99,965 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Bank of New York Mellon worth $71,992,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BK. Ameriprise Financial Inc. lifted its stake in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock worth $490,640,000 after purchasing an additional 179,503 shares during the last quarter. Legal & General Group Plc grew its position in Bank of New York Mellon by 1.2% in the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after purchasing an additional 97,286 shares in the last quarter. LSV Asset Management increased its stake in Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after buying an additional 286,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bank of New York Mellon by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after buying an additional 454,151 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.1 %

Shares of Bank of New York Mellon stock opened at $75.31 on Friday. The Bank of New York Mellon Co. has a 52-week low of $43.46 and a 52-week high of $78.03. The stock has a market cap of $55.58 billion, a PE ratio of 16.37, a PEG ratio of 0.89 and a beta of 1.08. The firm has a 50-day moving average of $72.01 and a 200-day moving average of $64.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.69.

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.