Quantessence Capital LLC Invests $496,000 in The Bank of New York Mellon Co. (NYSE:BK)

Quantessence Capital LLC purchased a new stake in 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. The fund purchased 6,452 shares of the bank's stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Bank of New York Mellon during the fourth quarter worth about $1,150,462,000. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after acquiring an additional 3,732,862 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $90,955,000. Arrowstreet Capital Limited Partnership increased its stake in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after acquiring an additional 1,125,493 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Bank of New York Mellon by 31.1% during the fourth quarter. Marshall Wace LLP now owns 2,357,923 shares of the bank's stock valued at $181,159,000 after purchasing an additional 559,818 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The shares were 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 in the company, valued at $1,680,122.50. The trade was a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased 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 note on Wednesday, April 2nd. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Citigroup increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Finally, Barclays boosted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Trading Up 0.2 %

BK traded up $0.14 during midday trading on Monday, hitting $78.79. 812,013 shares of the company were exchanged, compared to its average volume of 4,356,542. The firm has a market capitalization of $56.57 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.97 and a beta of 1.03. The firm's 50 day moving average price is $81.68 and its 200-day moving average price is $80.56. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. As a group, equities 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 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 dividend yield of 2.39%. Bank of New York Mellon's payout ratio is 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.