Public Employees Retirement Association of Colorado Boosts Holdings in Bank of New York Mellon Corp (BK)

Public Employees Retirement Association of Colorado lifted its position in Bank of New York Mellon Corp (NYSE:BK) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,318,760 shares of the bank’s stock after buying an additional 67,531 shares during the period. Public Employees Retirement Association of Colorado owned about 0.13% of Bank of New York Mellon worth $71,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Country Trust Bank increased its holdings in Bank of New York Mellon by 4.1% during the third quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock valued at $32,132,000 after buying an additional 23,683 shares during the last quarter. Toronto Dominion Bank increased its holdings in Bank of New York Mellon by 24.7% during the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock valued at $18,577,000 after buying an additional 72,058 shares during the last quarter. Sei Investments Co. increased its holdings in Bank of New York Mellon by 7.4% during the third quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock valued at $54,102,000 after buying an additional 70,619 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $612,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $748,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Bank of New York Mellon Corp (NYSE:BK) traded up $0.82 during mid-day trading on Monday, reaching $54.90. 1,638,896 shares of the company’s stock traded hands, compared to its average volume of 4,913,337. Bank of New York Mellon Corp has a fifty-two week low of $45.12 and a fifty-two week high of $58.99. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $54,806.94, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.72 and a beta of 1.21.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. Bank of New York Mellon’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. research analysts anticipate that Bank of New York Mellon Corp will post 4.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 25.74%.

A number of analysts have commented on BK shares. Barclays upped their target price on shares of Bank of New York Mellon from $55.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price objective (up from $52.85) on shares of Bank of New York Mellon in a research note on Friday, October 20th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Royal Bank of Canada reissued a “hold” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, November 15th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Friday, January 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.76.

In related news, Director Edward P. Garden sold 143,792 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $52.52, for a total value of $7,551,955.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the transaction, the chief financial officer now directly owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Insiders sold a total of 831,944 shares of company stock valued at $43,807,887 in the last 90 days. Company insiders own 3.60% of the company’s stock.

WARNING: “Public Employees Retirement Association of Colorado Boosts Holdings in Bank of New York Mellon Corp (BK)” was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://www.thelincolnianonline.com/2018/02/12/bank-of-new-york-mellon-corp-bk-position-lifted-by-public-employees-retirement-association-of-colorado-updated.html.

About Bank of New York Mellon

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply