Man Group plc Has $121.69 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Man Group plc grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 155.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,583,912 shares of the bank's stock after buying an additional 964,428 shares during the period. Man Group plc owned approximately 0.22% of Bank of New York Mellon worth $121,692,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FMR LLC raised its position in Bank of New York Mellon by 19.3% in the fourth 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 in the last quarter. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter worth about $1,150,462,000. Ameriprise Financial Inc. grew its stake in Bank of New York Mellon by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock worth $908,281,000 after buying an additional 35,413 shares during the last quarter. Northern Trust Corp grew its stake in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after buying an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in 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 worth $595,526,000 after buying an additional 1,125,493 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Evercore ISI increased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last quarter. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Up 1.0%

Bank of New York Mellon stock opened at $87.97 on Wednesday. The company has a market cap of $62.94 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.34. The company has a fifty day simple moving average of $80.75 and a 200 day simple moving average of $81.11. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

About Bank of New York Mellon

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.

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