The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,600 shares of the bank’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bank of New York Mellon were worth $3,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital Analysts LLC lifted its holdings in Bank of New York Mellon by 3.7% during the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock worth $255,000 after buying an additional 119 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock valued at $417,000 after purchasing an additional 132 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Bank of New York Mellon by 1.1% in the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank’s stock valued at $1,056,000 after purchasing an additional 139 shares in the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Bank of New York Mellon by 4.7% in the 1st quarter. Quotient Wealth Partners LLC now owns 3,171 shares of the bank’s stock valued at $266,000 after purchasing an additional 141 shares in the last quarter. Finally, Valmark Advisers Inc. raised its holdings in shares of Bank of New York Mellon by 1.1% in the 1st quarter. Valmark Advisers Inc. now owns 12,821 shares of the bank’s stock valued at $1,075,000 after purchasing an additional 142 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of a number of analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Citigroup raised their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Finally, Truist Financial lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.08.

Bank of New York Mellon Trading Up 0.0%

Shares of Bank of New York Mellon stock opened at $93.70 on Monday. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $93.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $67.04 billion, a P/E ratio of 15.26, a PEG ratio of 1.00 and a beta of 1.07. The company’s fifty day moving average is $89.60 and its two-hundred day moving average is $84.66.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the firm posted $1.29 EPS. Bank of New York Mellon’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president directly owned 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

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.