Alaska Permanent Fund Corp Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Alaska Permanent Fund Corp lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,213 shares of the bank’s stock after selling 287 shares during the period. Alaska Permanent Fund Corp’s holdings in Bank of New York Mellon were worth $2,718,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BK. Mirae Asset Global Investments Co. Ltd. grew its stake in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares in the last quarter. Trust Point Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $310,000. WCG Wealth Advisors LLC purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at about $1,552,000. Meeder Asset Management Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $1,298,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Bank of New York Mellon by 22.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BK shares. Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Morgan Stanley lifted 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 report on Thursday, April 18th. Evercore ISI lifted 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 report on Thursday, April 4th. Finally, Bank of America lifted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction on 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 directly 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. Insiders have sold 98,568 shares of company stock valued at $5,459,897 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

BK traded up $0.51 on Wednesday, reaching $57.95. The company had a trading volume of 3,224,229 shares, compared to its average volume of 3,986,392. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The stock has a market capitalization of $43.63 billion, a PE ratio of 14.01, a P/E/G ratio of 1.23 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $55.86 and a 200-day moving average price of $51.58.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

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.