Farringdon Capital Ltd. Buys Shares of 5,480 The Bank of New York Mellon Co. (NYSE:BK)

Farringdon Capital Ltd. purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,480 shares of the bank’s stock, valued at approximately $421,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $1,150,462,000. FMR LLC boosted its position in shares of Bank of New York Mellon by 19.3% in the fourth 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. Raymond James Financial Inc. purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $90,955,000. Arrowstreet Capital Limited Partnership increased its position in Bank of New York Mellon by 17.0% during 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 last quarter. Finally, Marshall Wace LLP raised its stake in Bank of New York Mellon by 31.1% during the fourth quarter. Marshall Wace LLP now owns 2,357,923 shares of the bank’s stock worth $181,159,000 after purchasing an additional 559,818 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup upped their price target on 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. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America increased their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $89.64.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $76.25 on Friday. The Bank of New York Mellon Co. has a 12-month low of $54.76 and a 12-month high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The firm’s fifty day moving average price is $82.91 and its 200 day moving average price is $80.26.

Bank of New York Mellon (NYSE:BK) last announced 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 for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

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.