Illinois Municipal Retirement Fund Sells 31,101 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Illinois Municipal Retirement Fund trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,711 shares of the bank’s stock after selling 31,101 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of New York Mellon were worth $22,873,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its holdings in shares of Bank of New York Mellon by 1,375.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 252,292 shares of the bank’s stock valued at $19,384,000 after purchasing an additional 235,190 shares in the last quarter. IFP Advisors Inc raised its holdings in Bank of New York Mellon by 42.4% during the fourth quarter. IFP Advisors Inc now owns 5,196 shares of the bank’s stock worth $399,000 after acquiring an additional 1,547 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Bank of New York Mellon during the fourth quarter worth about $1,246,000. Howard Capital Management Inc. raised its holdings in Bank of New York Mellon by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 4,936 shares of the bank’s stock worth $379,000 after acquiring an additional 252 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in Bank of New York Mellon by 1.0% during the fourth quarter. Wealthspire Advisors LLC now owns 14,740 shares of the bank’s stock worth $1,132,000 after acquiring an additional 144 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.8 %

NYSE BK opened at $87.97 on Tuesday. The business’s fifty day moving average is $82.21 and its 200 day moving average is $76.64. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The company has a market cap of $63.96 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Evercore ISI upped their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon 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.