Ontario Teachers Pension Plan Board Reduces Holdings in The Bank of New York Mellon Corporation $BK

Ontario Teachers Pension Plan Board lowered its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 13.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,796 shares of the bank’s stock after selling 1,708 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Bank of New York Mellon were worth $984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Bank of New York Mellon during the first quarter valued at $773,627,000. Goldman Sachs Group Inc. boosted its stake in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after purchasing an additional 890,593 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Bank of New York Mellon by 37.7% during the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock worth $266,349,000 after buying an additional 887,361 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Bank of New York Mellon by 126.9% during the first quarter. Citigroup Inc. now owns 1,557,145 shares of the bank’s stock worth $130,598,000 after buying an additional 870,844 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Morgan Stanley boosted their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a report on Thursday. Citigroup lifted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Down 0.4%

Shares of BK opened at $110.60 on Monday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $113.74. The firm has a market capitalization of $77.13 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $107.70 and its 200 day simple moving average is $99.26.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 30.59%.

About Bank of New York Mellon

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.