The Bank of New York Mellon Co. (NYSE:BK) Holdings Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,205 shares of the bank’s stock after selling 23,320 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bank of New York Mellon were worth $8,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC grew its stake in Bank of New York Mellon by 3.8% in the fourth 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. boosted its stake in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares in the last quarter. Vivaldi Capital Management LP boosted its stake in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock worth $324,000 after acquiring an additional 192 shares in the last quarter. Certuity LLC boosted its stake in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after acquiring an additional 205 shares in the last quarter. Finally, Choreo LLC boosted its stake in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BK shares. Jefferies Financial Group boosted their price objective 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. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods raised Bank of New York Mellon from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $70.00 in a research report on Thursday, June 27th. Evercore ISI reaffirmed an “in-line” rating and issued a $61.00 price target on shares of Bank of New York Mellon in a report on Wednesday. Finally, Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.15.

Insider Buying and Selling

In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the 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 in the company, valued at approximately $1,410,363.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value 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 have sold a total of 115,928 shares of company stock worth $6,475,216 in the last three months. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.03 during mid-day trading on Wednesday, reaching $60.47. The company had a trading volume of 1,528,637 shares, compared to its average volume of 3,695,877. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day moving average is $58.57 and its 200-day moving average is $56.19. The company has a market capitalization of $45.22 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.20 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the firm posted $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

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.