The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,533,615 shares of the bank's stock after acquiring an additional 1,526,686 shares during the quarter. Northern Trust Corp owned about 1.31% of Bank of New York Mellon worth $732,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in 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 buying an additional 3,732,862 shares during the last quarter. Norges Bank bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $1,150,462,000. Arrowstreet Capital Limited Partnership lifted its position in Bank of New York Mellon by 17.0% in the 4th 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. Invesco Ltd. lifted its position in Bank of New York Mellon by 2.4% in the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock worth $583,617,000 after buying an additional 175,704 shares during the last quarter. Finally, Amundi lifted its position in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock valued at $573,947,000 after purchasing an additional 359,942 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BK. Citigroup boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Barclays boosted their price objective on 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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 Stock Performance

Shares of BK traded up $0.47 during mid-day trading on Thursday, hitting $80.88. 3,275,803 shares of the company traded hands, compared to its average volume of 3,972,991. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a 50-day moving average price of $81.22 and a two-hundred day moving average price of $80.59. The Bank of New York Mellon Co. has a 1 year low of $56.31 and a 1 year high of $90.34. The stock has a market cap of $58.07 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The firm's quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.32%. Bank of New York Mellon's dividend payout ratio (DPR) is 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.