South Dakota Investment Council Sells 17,900 Shares of The Bank of New York Mellon Corporation $BK

South Dakota Investment Council trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,842 shares of the bank’s stock after selling 17,900 shares during the quarter. South Dakota Investment Council’s holdings in Bank of New York Mellon were worth $6,085,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BK. Norges Bank bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $1,081,847,000. Qube Research & Technologies Ltd bought a new position in Bank of New York Mellon during the second quarter worth about $135,728,000. Geode Capital Management LLC lifted its stake 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 worth $1,717,074,000 after purchasing an additional 785,478 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after purchasing an additional 577,621 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Bank of New York Mellon by 698.6% in the 2nd quarter. Bank of Nova Scotia now owns 651,135 shares of the bank’s stock valued at $59,325,000 after purchasing an additional 569,602 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BK shares. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Royal Bank Of Canada upped their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Barclays lifted their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Down 1.2%

Shares of NYSE BK opened at $118.01 on Wednesday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The firm’s 50-day moving average is $119.74 and its 200-day moving average is $112.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $81.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion for the quarter. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Bank of New York Mellon 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.