The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,356,843 shares of the bank's stock after buying an additional 623,761 shares during the quarter. AQR Capital Management LLC owned about 0.32% of Bank of New York Mellon worth $181,076,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. Capital Analysts LLC raised its stake in shares of Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after buying an additional 119 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in shares of Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after buying an additional 131 shares during the last quarter. Syon Capital LLC grew its holdings in Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Bank of New York Mellon by 0.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares during the period. Finally, Grove Bank & Trust grew its holdings in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after purchasing an additional 135 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Truist Financial cut their target price on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company upped 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 note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $78.94 on Tuesday. The company has a market cap of $56.68 billion, a P/E ratio of 13.59, a PEG ratio of 0.97 and a beta of 1.03. 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 business has a 50-day moving average price of $81.50 and a two-hundred day moving average price of $80.59. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34.

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, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The company's revenue was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the company's 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 completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % 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, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The shares were 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 of the company's stock, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.