California Public Employees Retirement System Sells 10,474 Shares of The Bank of New York Mellon Corporation $BK

California Public Employees Retirement System trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 0.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,399,576 shares of the bank’s stock after selling 10,474 shares during the period. California Public Employees Retirement System’s holdings in Bank of New York Mellon were worth $152,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon during the second quarter worth approximately $36,000. Westside Investment Management Inc. grew its holdings in Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares during the last quarter. Dunhill Financial LLC raised its position in shares of Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $116.18 on Monday. The firm’s 50-day moving average is $119.65 and its 200-day moving average is $113.28. The company has a market cap of $79.96 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 during the quarter. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 28.61%.

About Bank of New York Mellon

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.