Bridgewater Associates LP Increases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bridgewater Associates LP lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 90.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 990,319 shares of the bank's stock after buying an additional 469,398 shares during the period. Bridgewater Associates LP owned approximately 0.14% of Bank of New York Mellon worth $76,086,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BK. Norges Bank bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $1,150,462,000. FMR LLC lifted its stake in shares of 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 valued at $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth about $90,955,000. Arrowstreet Capital Limited Partnership grew 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 valued at $595,526,000 after acquiring an additional 1,125,493 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Bank of New York Mellon by 22.3% during the fourth quarter. Barclays PLC now owns 2,885,095 shares of the bank's stock worth $221,662,000 after acquiring an additional 525,799 shares during the period. Institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup lifted 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 report on Monday, March 24th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Evercore ISI lifted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $89.64.

Bank of New York Mellon Stock Up 0.7 %

BK traded up $0.52 on Friday, reaching $76.25. The company's stock had a trading volume of 4,317,948 shares, compared to its average volume of 3,959,539. 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 fifty-two week low of $54.76 and a fifty-two week high of $90.34. The stock has a 50 day moving average of $82.91 and a two-hundred day moving average of $80.26. The company has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, 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 announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business's revenue was up 5.9% on a year-over-year basis. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In related 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction 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. 0.14% of the stock is currently owned by insiders.

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.