Worldquant Millennium Advisors LLC Purchases Shares of 22,282 The Bank of New York Mellon Co. (NYSE:BK)

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

A number of other hedge funds and other institutional investors have also modified their holdings of BK. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Transce3nd LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $33,000. South Plains Financial Inc. purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $35,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BK. Morgan Stanley dropped their price target 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. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial cut their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI upped 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. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Trading Up 1.2%

Shares of Bank of New York Mellon stock traded up $1.04 during trading hours on Tuesday, reaching $90.13. 2,226,749 shares of the company's stock were exchanged, compared to its average volume of 4,292,317. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63. The company has a fifty day moving average of $81.98 and a 200-day moving average of $81.95. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm 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 firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. Sell-side analysts forecast 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, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by company insiders.

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.