Fmr LLC Purchases 3,732,862 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Fmr LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,071,584 shares of the bank’s stock after acquiring an additional 3,732,862 shares during the quarter. Fmr LLC’s holdings in Bank of New York Mellon were worth $1,772,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd raised its holdings in Bank of New York Mellon by 117.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 19,249 shares of the bank’s stock worth $1,479,000 after buying an additional 10,408 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Bank of New York Mellon by 1.1% during the fourth quarter. Peapack Gladstone Financial Corp now owns 27,579 shares of the bank’s stock worth $2,119,000 after acquiring an additional 298 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Bank of New York Mellon by 7.7% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 210,000 shares of the bank’s stock worth $16,134,000 after acquiring an additional 15,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Bank of New York Mellon by 8.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,263,897 shares of the bank’s stock valued at $173,935,000 after acquiring an additional 171,876 shares in the last quarter. Finally, KCM Investment Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at about $222,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI raised their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Bank of America raised their price target on shares of 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. Finally, Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $73.17 on Monday. The business’s 50 day simple moving average is $84.98 and its 200 day simple moving average is $80.08. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a market cap of $52.53 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.97 and a beta of 1.03. 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) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.