Worldquant Millennium Advisors LLC Invests $1.71 Million in The Bank of New York Mellon Co. (NYSE:BK)

Worldquant Millennium Advisors LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,282 shares of the bank's stock, valued at approximately $1,712,000.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on BK shares. Wall Street Zen downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Evercore ISI raised their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and set a $97.00 target price on the stock. in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $92.08.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the 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 transaction, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the business'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 sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 in the last quarter. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Down 1.1%

Shares of BK stock traded down $0.97 during mid-day trading on Wednesday, hitting $89.26. The stock had a trading volume of 829,001 shares, compared to its average volume of 4,051,123. The firm has a market capitalization of $63.86 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. 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 12-month low of $57.18 and a 12-month high of $91.17. The firm's 50-day moving average is $82.10 and its two-hundred day moving average is $82.01.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates 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 company's revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 earnings per share. On average, analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Bank of New York Mellon Company 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.