California Public Employees Retirement System Sells 74,940 Shares of The Bank of New York Mellon Co. (NYSE:BK)

California Public Employees Retirement System lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,484,479 shares of the bank’s stock after selling 74,940 shares during the period. California Public Employees Retirement System’s holdings in Bank of New York Mellon were worth $77,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its position in shares of Bank of New York Mellon by 41.4% in the fourth 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 period. Blue Trust Inc. boosted its position in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the period. Addison Advisors LLC boosted its position in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares during the period. First Command Advisory Services Inc. bought a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $49,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock worth $5,459,897 in the last three months. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK opened at $57.94 on Thursday. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The firm has a 50 day moving average price of $55.93 and a 200-day moving average price of $51.63.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 EPS. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.90%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Bank of America lifted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

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.