O Shaughnessy Asset Management LLC Acquires 82,671 Shares of The Bank of New York Mellon Co. (NYSE:BK)

O Shaughnessy Asset Management LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 11.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 786,496 shares of the bank’s stock after acquiring an additional 82,671 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.11% of Bank of New York Mellon worth $60,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Bank of New York Mellon in the 4th quarter worth about $1,150,462,000. Wellington Management Group LLP grew its stake in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $90,955,000. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 valued at $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $62,589,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $82.67 on Friday. The stock has a market cap of $59.35 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The business has a 50-day simple moving average of $85.34 and a 200-day simple moving average of $79.61. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of several research reports. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial increased their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America boosted 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 report on Thursday, January 16th. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.