The Bank of New York Mellon Co. (NYSE:BK) Position Reduced by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,847 shares of the bank's stock after selling 32,903 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in Bank of New York Mellon were worth $22,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. Wellington Management Group LLP raised its position in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. bought a new position in Bank of New York Mellon during the fourth quarter worth $90,955,000. Arrowstreet Capital Limited Partnership boosted its holdings in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after purchasing an additional 1,125,493 shares during the period. Finally, Zacks Investment Management bought a new stake in Bank of New York Mellon during the third quarter valued at $62,589,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Morgan Stanley cut their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $89.86.

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Bank of New York Mellon Price Performance

BK stock traded up $0.73 during trading hours on Friday, hitting $77.34. 2,787,381 shares of the stock traded hands, compared to its average volume of 3,966,227. The stock has a 50-day simple moving average of $83.77 and a 200 day simple moving average of $80.14. The company has a market cap of $55.53 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.97 and a beta of 1.03. 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 current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The business's revenue was up 5.9% compared to the same quarter last year. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.43%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

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.