Public Employees Retirement System of Ohio Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Public Employees Retirement System of Ohio cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,980 shares of the bank's stock after selling 36,230 shares during the period. Public Employees Retirement System of Ohio's holdings in Bank of New York Mellon were worth $22,778,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,699 shares of the bank's stock valued at $1,060,000 after acquiring an additional 646 shares during the last quarter. Wedmont Private Capital increased its position in shares of Bank of New York Mellon by 13.9% during the 2nd quarter. Wedmont Private Capital now owns 5,231 shares of the bank's stock valued at $338,000 after purchasing an additional 640 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Bank of New York Mellon by 18.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,127 shares of the bank's stock valued at $3,841,000 after buying an additional 10,114 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in Bank of New York Mellon in the second quarter worth $219,000. Finally, Welch Group LLC boosted its stake in Bank of New York Mellon by 217.4% during the second quarter. Welch Group LLC now owns 16,936 shares of the bank's stock worth $1,014,000 after buying an additional 11,600 shares during the period. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 1.2 %

Shares of NYSE:BK traded down $0.94 on Wednesday, reaching $79.68. The company had a trading volume of 4,816,969 shares, compared to its average volume of 3,829,547. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $57.93 billion, a PE ratio of 17.44, a PEG ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $49.48 and a 52-week high of $82.72. The firm's 50 day simple moving average is $77.33 and its 200-day simple moving average is $68.67.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 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 business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. As a group, analysts expect 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 issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.36%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Insider Transactions at Bank of New York Mellon

In other 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 sale, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm's 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 completion of the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BK. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. UBS Group boosted 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. Citigroup increased their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

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.