Arrowstreet Capital Limited Partnership Has $191.29 Million Holdings in Bank of New York Mellon Corp (BK)

Arrowstreet Capital Limited Partnership decreased its stake in Bank of New York Mellon Corp (NYSE:BK) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,551,635 shares of the bank’s stock after selling 1,113,752 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Bank of New York Mellon were worth $191,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invictus RG purchased a new stake in shares of Bank of New York Mellon during the third quarter worth about $102,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $120,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $124,000. Horan Capital Advisors LLC. purchased a new stake in shares of Bank of New York Mellon during the third quarter worth about $139,000. Finally, Taylor Hoffman Wealth Management purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $144,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Several research firms recently issued reports on BK. Citigroup upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, January 10th. Morgan Stanley increased their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Sandler O’Neill reiterated a “hold” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Friday, January 19th. Vining Sparks reiterated a “buy” rating and set a $62.00 target price on shares of Bank of New York Mellon in a research report on Monday, January 8th. Finally, Zacks Investment Research upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $56.76.

In other news, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the sale, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at approximately $16,786,608.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden sold 143,792 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $52.52, for a total value of $7,551,955.84. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Bank of New York Mellon Corp (NYSE BK) opened at $56.25 on Monday. Bank of New York Mellon Corp has a one year low of $45.12 and a one year high of $58.99. The company has a market capitalization of $57,600.00, a P/E ratio of 18.50, a P/E/G ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. equities analysts anticipate that Bank of New York Mellon Corp will post 4.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, January 29th. Bank of New York Mellon’s payout ratio is 31.58%.

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Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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