AQR Capital Management LLC Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

AQR Capital Management LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 36.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,356,843 shares of the bank’s stock after purchasing an additional 623,761 shares during the quarter. AQR Capital Management LLC’s holdings in Bank of New York Mellon were worth $181,076,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Lido Advisors LLC raised its holdings in Bank of New York Mellon by 2.2% in the 4th quarter. Lido Advisors LLC now owns 34,443 shares of the bank’s stock worth $2,646,000 after purchasing an additional 743 shares in the last quarter. Northern Trust Corp increased its stake in Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock valued at $732,468,000 after purchasing an additional 1,526,686 shares in the last quarter. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $28,000. Beacon Pointe Advisors LLC increased its stake in Bank of New York Mellon by 50.0% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,576 shares of the bank’s stock valued at $1,043,000 after purchasing an additional 4,528 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.4 %

Bank of New York Mellon stock opened at $78.94 on Tuesday. The stock has a 50-day moving average of $81.50 and a two-hundred day moving average of $80.59. 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 Bank of New York Mellon Co. has a one year low of $56.08 and a one year high of $90.34. The stock has a market cap of $56.68 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend 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 firm’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BK shares. Wells Fargo & Company increased their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Evercore ISI increased their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised 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. 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 research report on Monday, March 17th. Finally, Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.31.

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.