AQR Capital Management LLC Sells 126,759 Shares of The Bank of New York Mellon Corporation $BK

AQR Capital Management LLC cut its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,117,445 shares of the bank’s stock after selling 126,759 shares during the quarter. AQR Capital Management LLC owned approximately 0.44% of Bank of New York Mellon worth $284,030,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $1,035,000. Investment Management Corp of Ontario lifted its position in shares of Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Bank of New York Mellon by 150.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock worth $7,804,000 after purchasing an additional 51,457 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Bank of New York Mellon by 127.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 620,715 shares of the bank’s stock valued at $56,553,000 after purchasing an additional 348,162 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of Bank of New York Mellon during the second quarter valued at about $230,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.4%

NYSE:BK opened at $116.98 on Friday. The company has a market cap of $81.57 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $109.54 and a two-hundred day simple moving average of $102.56. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $119.40.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BK shares. Truist Financial increased their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Evercore ISI raised their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Barclays increased their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.29.

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.