Strs Ohio Has $32.26 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Strs Ohio reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 619,835 shares of the bank’s stock after selling 200,876 shares during the quarter. Strs Ohio’s holdings in Bank of New York Mellon were worth $32,262,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BK. Quent Capital LLC grew its holdings 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 worth $262,000 after purchasing an additional 182 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in shares of 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 last quarter. Commonwealth Retirement Investments LLC grew its holdings in shares of Bank of New York Mellon by 0.8% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after purchasing an additional 221 shares during the last quarter. Laurel Wealth Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 1.7% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock worth $717,000 after purchasing an additional 245 shares during the last quarter. Finally, Arjuna Capital grew its holdings in shares of Bank of New York Mellon by 0.5% in the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock worth $2,066,000 after purchasing an additional 251 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BK. Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. UBS Group increased their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. 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 report on Wednesday, March 27th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and an average price target of $56.72.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $55.09 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The company has a market cap of $41.48 billion, a PE ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.12. The company’s 50-day moving average is $55.77 and its two-hundred day moving average is $51.00.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.05%. Bank of New York Mellon’s dividend payout ratio is 42.32%.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon 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.