Teachers Retirement System of The State of Kentucky Acquires 102,000 Shares of The Bank of New York Mellon Corporation $BK

Teachers Retirement System of The State of Kentucky raised its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 74.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,774 shares of the bank’s stock after buying an additional 102,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bank of New York Mellon were worth $26,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BK. Vanguard Group Inc. increased its stake in shares of Bank of New York Mellon by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after purchasing an additional 517,081 shares in the last quarter. Geode Capital Management LLC lifted its position in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after purchasing an additional 139,544 shares during the period. Norges Bank bought a new stake in Bank of New York Mellon during the second quarter valued at about $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after buying an additional 577,621 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.4%

Shares of BK opened at $119.57 on Tuesday. The firm has a market cap of $82.14 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10. 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 Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company has a 50 day simple moving average of $119.72 and a two-hundred day simple moving average of $112.38.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on BK. TD Cowen lifted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Barclays raised their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.92.

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.