Jump Financial LLC Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Jump Financial LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1,339.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,482 shares of the bank’s stock after buying an additional 80,474 shares during the period. Jump Financial LLC’s holdings in Bank of New York Mellon were worth $6,644,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. FMR LLC raised its position in Bank of New York Mellon by 19.3% during 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 period. Raymond James Financial Inc. purchased a new position in Bank of New York Mellon during the fourth quarter valued at $90,955,000. Arrowstreet Capital Limited Partnership grew its position in shares of 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. Finally, Barclays PLC increased its stake in shares of Bank of New York Mellon by 22.3% during the fourth quarter. Barclays PLC now owns 2,885,095 shares of the bank’s stock worth $221,662,000 after purchasing an additional 525,799 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $77.74 on Wednesday. The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. 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 firm has a 50 day simple moving average of $83.29 and a 200-day simple moving average of $80.26. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. 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 $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Citigroup lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.64.

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.