Arrowstreet Capital Limited Partnership Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Arrowstreet Capital Limited Partnership boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 17.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,751,219 shares of the bank’s stock after buying an additional 1,125,493 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Bank of New York Mellon were worth $595,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC boosted its position in shares of Bank of New York Mellon by 58.3% in the 3rd quarter. Cerity Partners LLC now owns 52,982 shares of the bank’s stock worth $3,807,000 after buying an additional 19,518 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Bank of New York Mellon by 3.3% in the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock valued at $525,000 after purchasing an additional 231 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Bank of New York Mellon by 24.6% in the third quarter. Townsquare Capital LLC now owns 22,001 shares of the bank’s stock valued at $1,581,000 after purchasing an additional 4,342 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of Bank of New York Mellon by 3.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock worth $645,000 after purchasing an additional 332 shares in the last quarter. Finally, Fiduciary Trust Co raised its position in shares of Bank of New York Mellon by 2.7% during the 3rd quarter. Fiduciary Trust Co now owns 12,967 shares of the bank’s stock worth $932,000 after purchasing an additional 343 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their price objective 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. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $89.71.

Bank of New York Mellon Stock Performance

NYSE BK opened at $82.67 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The firm has a market capitalization of $59.35 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The business’s 50-day simple moving average is $85.34 and its 200-day simple moving average is $79.61.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.27%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.