Alaska Permanent Fund Corp Has $2.72 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Alaska Permanent Fund Corp lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,213 shares of the bank’s stock after selling 287 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Bank of New York Mellon were worth $2,718,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. boosted its stake in shares of Bank of New York Mellon by 0.3% in the 4th quarter. Private Management Group Inc. now owns 817,489 shares of the bank’s stock valued at $42,550,000 after purchasing an additional 2,297 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $242,000. Illinois Municipal Retirement Fund boosted its stake in shares of Bank of New York Mellon by 14.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 451,889 shares of the bank’s stock valued at $23,521,000 after purchasing an additional 57,211 shares during the last quarter. 1900 Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $232,000. Finally, RWA Wealth Partners LLC boosted its stake in Bank of New York Mellon by 171.1% during the 4th quarter. RWA Wealth Partners LLC now owns 13,404 shares of the bank’s stock worth $698,000 after acquiring an additional 8,459 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.51 on Wednesday, reaching $57.95. The company had a trading volume of 3,224,229 shares, compared to its average volume of 3,986,392. The stock has a market capitalization of $43.63 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The business’s 50-day moving average is $55.86 and its 200 day moving average is $51.58.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BK shares. 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. Citigroup lifted their price objective on shares of 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. Bank of America lifted their price objective on shares of 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. Jefferies Financial Group boosted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI boosted their target price 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. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $60.17.

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.