New York State Teachers Retirement System lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,782,015 shares of the bank’s stock after selling 128,788 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of Bank Of New York Mellon Corporation (The) worth $94,482,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. First Interstate Bank lifted its stake in Bank Of New York Mellon Corporation (The) by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after acquiring an additional 842 shares during the last quarter. Exane Derivatives purchased a new position in Bank Of New York Mellon Corporation (The) in the second quarter worth approximately $130,000. Hudock Capital Group LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares during the last quarter. Advisory Services Network LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after acquiring an additional 363 shares during the last quarter. Finally, Burt Wealth Advisors lifted its stake in Bank Of New York Mellon Corporation (The) by 2,186.7% in the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock worth $139,000 after acquiring an additional 2,624 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.45% during mid-day trading on Wednesday, reaching $51.68. 1,630,709 shares of the company traded hands. The firm’s 50-day moving average is $52.98 and its 200 day moving average is $50.89. The stock has a market capitalization of $53.39 billion, a PE ratio of 15.33 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52-week low of $42.73 and a 52-week high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Bank Of New York Mellon Corporation will post $3.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.07%.

A number of research analysts recently issued reports on BK shares. Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, October 10th. Morgan Stanley lifted their price target on shares of Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Deutsche Bank AG lifted their price target on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, September 15th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $58.00 price target (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.28.

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In related news, Chairman Gerald L. Hassell sold 700,719 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the transaction, the chairman now directly owns 1,253,522 shares in the company, valued at $67,577,371.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles W. Scharf acquired 186,900 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the purchase, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold 17,761,019 shares of company stock worth $939,813,259 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Bank Of New York Mellon Corporation (The) Profile

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.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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