Kentucky Retirement Systems Sells 4,943 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kentucky Retirement Systems reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,410 shares of the bank’s stock after selling 4,943 shares during the quarter. Kentucky Retirement Systems’ holdings in Bank of New York Mellon were worth $3,694,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BK. Stanley Laman Group Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after acquiring an additional 137 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after acquiring an additional 142 shares in the last quarter. Sigma Planning Corp boosted its position in Bank of New York Mellon by 2.7% during the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after acquiring an additional 143 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BK shares. Barclays boosted their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI raised their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, The Goldman Sachs Group raised their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $77.23.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $78.29 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $56.92 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $46.04 and a 12 month high of $80.29. The stock has a 50 day moving average of $73.99 and a 200-day moving average of $65.95.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

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.