Marshall Wace LLP Acquires 559,818 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Marshall Wace LLP increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,357,923 shares of the bank's stock after buying an additional 559,818 shares during the period. Marshall Wace LLP owned about 0.32% of Bank of New York Mellon worth $181,159,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BK. McIlrath & Eck LLC boosted its stake in shares of Bank of New York Mellon by 3.8% during the 3rd quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock valued at $493,000 after buying an additional 254 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of Bank of New York Mellon by 3.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock worth $705,000 after purchasing an additional 345 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $2,617,000. Wilmington Savings Fund Society FSB lifted its holdings in Bank of New York Mellon by 340.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after buying an additional 2,240 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK stock traded down $1.60 during mid-day trading on Monday, reaching $74.27. The company's stock had a trading volume of 781,319 shares, compared to its average volume of 3,947,158. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34. 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 company has a market cap of $53.32 billion, a P/E ratio of 12.78, a PEG ratio of 0.97 and a beta of 1.03. The firm's 50-day moving average is $82.72 and its two-hundred day moving average is $80.43.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. On average, research 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BK. Evercore ISI upped their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Truist Financial dropped their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Activity

In other news, 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 transaction of $437,177.50. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

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.