Public Sector Pension Investment Board Has $19.39 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Public Sector Pension Investment Board cut its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 58.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,811 shares of the bank's stock after selling 376,000 shares during the period. Public Sector Pension Investment Board's holdings in Bank of New York Mellon were worth $19,389,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BK. FMR LLC boosted its position in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after purchasing an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock valued at $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. Swedbank AB acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth $35,514,000. Finally, Bank of Montreal Can lifted its position in shares of Bank of New York Mellon by 83.7% during the 3rd quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank's stock worth $94,913,000 after buying an additional 603,191 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 0.2 %

Shares of BK stock traded up $0.17 on Friday, hitting $81.91. The company had a trading volume of 2,180,286 shares, compared to its average volume of 3,837,340. The stock's 50-day moving average is $76.07 and its two-hundred day moving average is $67.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $59.55 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a twelve month low of $47.44 and a twelve month high of $82.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 40.87%.

Analyst Ratings Changes

A number of research firms have issued reports on BK. UBS Group lifted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average price target of $78.15.

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.