State of New Jersey Common Pension Fund D Sells 7,693 Shares of The Bank of New York Mellon Co. (NYSE:BK)

State of New Jersey Common Pension Fund D lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 263,214 shares of the bank's stock after selling 7,693 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Bank of New York Mellon were worth $18,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $32,000. Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after acquiring an additional 144 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. The trade was 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.

Bank of New York Mellon Stock Performance

NYSE:BK traded down $0.63 during mid-day trading on Friday, hitting $77.06. 3,176,365 shares of the stock were exchanged, compared to its average volume of 4,158,608. The Bank of New York Mellon Co. has a fifty-two week low of $44.93 and a fifty-two week high of $80.29. 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 stock has a market capitalization of $56.03 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The firm's 50-day simple moving average is $72.95 and its 200 day simple moving average is $65.23.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.52 billion. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.79 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BK. The Goldman Sachs Group increased 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. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Barclays upped their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Evercore ISI lifted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Finally, StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.69.

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.