Arrowstreet Capital Limited Partnership Has $595.53 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Arrowstreet Capital Limited Partnership boosted its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,751,219 shares of the bank's stock after purchasing an additional 1,125,493 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.07% of Bank of New York Mellon worth $595,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of BK. Czech National Bank raised its stake in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after buying an additional 7,316 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock valued at $23,449,000 after purchasing an additional 184,560 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock valued at $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after purchasing an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $342,000. 85.31% of the stock is owned by institutional investors and hedge funds.

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Bank of New York Mellon Price Performance

Shares of BK traded down $3.10 during trading hours on Thursday, hitting $81.12. 1,557,321 shares of the company were exchanged, compared to its average volume of 3,894,127. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a market capitalization of $58.24 billion, a PE ratio of 13.96, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $85.33 and a 200-day simple moving average of $79.94.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BK. Morgan Stanley cut their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Truist Financial increased their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.07.

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.