Public Employees Retirement Association of Colorado Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Public Employees Retirement Association of Colorado grew its stake in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 6,029.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,589 shares of the bank’s stock after buying an additional 114,687 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bank of New York Mellon were worth $6,068,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quent Capital LLC boosted its stake in shares of Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. raised its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the period. Certuity LLC lifted its stake in shares of Bank of New York Mellon by 2.3% in the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares during the last quarter. Choreo LLC lifted its position in Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in Bank of New York Mellon by 3.0% during the 4th quarter. Manchester Capital Management LLC now owns 7,524 shares of the bank’s stock valued at $392,000 after buying an additional 216 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BK shares. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Bank of America increased their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Citigroup upped their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Jefferies Financial Group boosted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Get Our Latest Stock Report on Bank of New York Mellon

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE:BK opened at $60.31 on Friday. The stock’s 50-day simple moving average is $57.58 and its two-hundred day simple moving average is $54.84. The stock has a market capitalization of $45.10 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.21 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $60.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 EPS. Analysts expect that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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