Louisiana State Employees Retirement System Acquires Shares of 46,500 The Bank of New York Mellon Co. (NYSE:BK)

Louisiana State Employees Retirement System acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,500 shares of the bank’s stock, valued at approximately $2,420,000.

Several other large investors also recently bought and sold shares of BK. Quilter Plc purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at about $446,850,000. Brown Brothers Harriman & Co. raised its holdings in shares of Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at about $36,000. Finally, Blue Trust Inc. raised its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the 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 transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Down 2.0 %

NYSE BK opened at $53.99 on Wednesday. The stock has a market capitalization of $40.64 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.12. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The firm has a 50-day moving average price of $55.75 and a 200 day moving average price of $51.08. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current 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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.11%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 42.32%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BK. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. UBS Group upped 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 report on Tuesday, January 9th. Evercore ISI upped 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. Royal Bank of Canada reissued 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. Finally, Citigroup increased 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.72.

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.