California Public Employees Retirement System Has $77.27 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

California Public Employees Retirement System cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,484,479 shares of the bank’s stock after selling 74,940 shares during the period. California Public Employees Retirement System owned about 0.19% of Bank of New York Mellon worth $77,267,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BK. Northern Trust Corp raised its holdings in shares of Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Bank of New York Mellon by 1.5% during the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after acquiring an additional 129,929 shares during the period. Legal & General Group Plc raised its holdings in shares of Bank of New York Mellon by 0.9% during the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after acquiring an additional 57,402 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock worth $272,425,000 after acquiring an additional 226,834 shares during the period. Finally, Invesco Ltd. grew its position in Bank of New York Mellon by 10.0% in the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after purchasing an additional 524,912 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Jefferies Financial Group raised their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Evercore ISI raised their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $57.94 on Thursday. The company has a market capitalization of $43.62 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The company has a 50-day simple moving average of $55.93 and a 200 day simple moving average of $51.63. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now 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 available through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now 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 available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon 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 sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,568 shares of company stock valued at $5,459,897. Company insiders own 0.14% of the company’s stock.

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.