California State Teachers Retirement System Has $70 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

California State Teachers Retirement System decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,214,881 shares of the bank’s stock after selling 18,594 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Bank of New York Mellon worth $70,001,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Bank of New York Mellon by 13.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock worth $861,000 after buying an additional 1,803 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Bank of New York Mellon by 10.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 795,806 shares of the bank’s stock worth $45,854,000 after buying an additional 76,303 shares during the period. Bayesian Capital Management LP bought a new stake in Bank of New York Mellon in the 1st quarter valued at $2,011,000. Captrust Financial Advisors boosted its holdings in Bank of New York Mellon by 14.6% in the 1st quarter. Captrust Financial Advisors now owns 983,031 shares of the bank’s stock valued at $56,642,000 after purchasing an additional 124,989 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Bank of New York Mellon in the 1st quarter valued at $1,374,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th. Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, Barclays raised their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.86.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon 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 transaction, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon 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 sale, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,858 shares of company stock valued at $2,223,504. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Down 0.1 %

Shares of NYSE:BK traded down $0.08 during trading on Thursday, hitting $64.99. 98,665 shares of the company’s stock were exchanged, compared to its average volume of 3,809,601. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $65.90. The firm has a 50-day moving average price of $60.74 and a two-hundred day moving average price of $57.76. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The firm has a market cap of $48.60 billion, a P/E ratio of 15.06, a PEG ratio of 1.16 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the firm earned $1.38 EPS. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be paid a $0.47 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is presently 43.52%.

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.