The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 283.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,982 shares of the bank’s stock after buying an additional 48,042 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Bank of New York Mellon were worth $4,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $1,150,462,000. FMR LLC lifted its holdings 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 worth $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Northern Trust Corp boosted its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the period. Raymond James Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $90,955,000. Finally, Arrowstreet Capital Limited Partnership raised its position 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 valued at $595,526,000 after purchasing an additional 1,125,493 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $85.90 on Friday. The stock’s 50-day simple moving average is $80.67 and its 200-day simple moving average is $80.91. The firm has a market capitalization of $61.46 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week 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.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities research 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Analyst Ratings Changes

BK has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. UBS Group raised their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.31.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 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.