Brevan Howard Capital Management LP Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Brevan Howard Capital Management LP bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,534 shares of the bank's stock, valued at approximately $656,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $1,150,462,000. FMR LLC increased its position in shares of Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Northern Trust Corp grew its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $90,955,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after purchasing an additional 1,125,493 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 over the last three months. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of BK traded up $0.40 during mid-day trading on Friday, reaching $85.90. The company had a trading volume of 3,855,244 shares, compared to its average volume of 4,004,821. 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 company has a market capitalization of $61.46 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.34. The company's 50-day moving average is $80.67 and its 200-day moving average is $80.98.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. Bank of New York Mellon's payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BK. Evercore ISI raised their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Morgan Stanley reduced their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus target price of $91.31.

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.