National Pension Service Has $83.03 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

National Pension Service grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,595,194 shares of the bank’s stock after acquiring an additional 36,062 shares during the period. National Pension Service owned 0.21% of Bank of New York Mellon worth $83,030,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Bank of New York Mellon by 5.9% in the third quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock worth $20,088,000 after buying an additional 26,219 shares during the last quarter. Advisor Partners II LLC grew its position in shares of Bank of New York Mellon by 5.0% in the third quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after purchasing an additional 1,412 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Bank of New York Mellon by 0.5% in the third quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock worth $10,714,000 after purchasing an additional 1,145 shares during the period. TIAA Trust National Association bought a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $1,137,000. Finally, ING Groep NV bought a new position in Bank of New York Mellon in the 3rd quarter worth approximately $312,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BK. Morgan Stanley upped their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Citigroup increased their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Stock Performance

Shares of BK traded up $0.68 during mid-day trading on Thursday, reaching $58.19. The company’s stock had a trading volume of 1,724,323 shares, compared to its average volume of 3,839,635. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The stock has a market cap of $43.81 billion, a P/E ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.52. The business has a 50-day simple moving average of $56.25 and a two-hundred day simple moving average of $52.64.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations 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 revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders 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 annualized dividend and a dividend yield of 2.89%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.