Marshall Wace LLP Buys 1,311,969 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Marshall Wace LLP lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 99.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,631,213 shares of the bank’s stock after purchasing an additional 1,311,969 shares during the period. Marshall Wace LLP owned 0.35% of Bank of New York Mellon worth $157,583,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BK. Vanguard Group Inc. increased its holdings in shares of Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after acquiring an additional 4,293,751 shares during the last quarter. KBC Group NV increased its holdings in shares of Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after acquiring an additional 1,046,298 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after acquiring an additional 1,020,906 shares during the last quarter. M&G Plc acquired a new position in Bank of New York Mellon in the 1st quarter valued at $55,543,000. Finally, Putnam Investments LLC grew its holdings in Bank of New York Mellon by 224.9% in the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock valued at $52,105,000 after buying an additional 692,910 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research reports. Evercore ISI upped their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Barclays upped their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup upped their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Morgan Stanley upped their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.86.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $72.14 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $73.19. The company has a market cap of $53.95 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.17 and a beta of 1.08. The business has a fifty day simple moving average of $66.10 and a 200 day simple moving average of $60.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

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.