The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,570,863 shares of the bank's stock after selling 208,552 shares during the period. California Public Employees Retirement System owned 0.22% of Bank of New York Mellon worth $120,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $1,150,462,000. Arrowstreet Capital Limited Partnership increased its holdings in Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares during the period. Amundi raised its stake in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after buying an additional 359,942 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

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Wall Street Analyst Weigh In

BK has been the topic of several research analyst reports. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.07.

Bank of New York Mellon Price Performance

NYSE:BK traded down $3.24 during trading hours on Thursday, hitting $80.98. 2,852,397 shares of the stock were exchanged, compared to its average volume of 3,899,537. The firm's fifty day moving average price is $85.33 and its 200 day moving average price is $79.94. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market cap of $58.14 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $1.28 EPS. The company's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.32%. Bank of New York Mellon's payout ratio is currently 32.36%.

Bank of New York Mellon Company 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.