The Bank of New York Mellon Corporation $BK Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399,576 shares of the bank’s stock after selling 10,474 shares during the period. California Public Employees Retirement System owned about 0.20% of Bank of New York Mellon worth $152,498,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BK. Bank of Nova Scotia raised its stake in Bank of New York Mellon by 8.6% during the 3rd quarter. Bank of Nova Scotia now owns 707,403 shares of the bank’s stock valued at $77,079,000 after purchasing an additional 56,268 shares during the period. BNP Paribas boosted its position in shares of Bank of New York Mellon by 7.2% in the third quarter. BNP Paribas now owns 77,384 shares of the bank’s stock worth $8,432,000 after buying an additional 5,200 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Bank of New York Mellon by 1.0% during the third quarter. Alliancebernstein L.P. now owns 901,440 shares of the bank’s stock valued at $98,221,000 after buying an additional 8,739 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after buying an additional 2,034,781 shares in the last quarter. Finally, Creative Planning raised its position in Bank of New York Mellon by 3.8% during the third quarter. Creative Planning now owns 146,231 shares of the bank’s stock valued at $15,933,000 after buying an additional 5,344 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada upped their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Barclays increased their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Down 0.8%

BK opened at $116.18 on Monday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The business has a 50-day moving average of $119.65 and a 200-day moving average of $113.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $79.96 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.