Aigen Investment Management LP Has $3.42 Million Stock Holdings in Bank of New York Mellon Corporation $BNY

Key Points

• Aigen Investment Management LP increased its stake in Bank of New York Mellon by 722.9% in the fourth quarter, ending with 29,436 shares valued at about $3.42 million.
• Bank of New York Mellon reported a strong quarter, with EPS of $2.25 beating expectations and revenue of $5.41 billion rising 12.9% year over year.
• The bank continues to attract mixed signals from the market: analysts currently view the stock as a Moderate Buy, while insiders recently sold shares and the company paid a $0.53 quarterly dividend yielding about 1.5%.

Aigen Investment Management LP grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 722.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,436 shares of the bank's stock after buying an additional 25,859 shares during the quarter. Bank of New York Mellon makes up 0.8% of Aigen Investment Management LP's portfolio, making the stock its 17th largest position. Aigen Investment Management LP's holdings in Bank of New York Mellon were worth $3,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNY. Atlas Capital Advisors Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $44,000. Aptus Capital Advisors LLC lifted its stake in Bank of New York Mellon by 4.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 11,998 shares of the bank's stock valued at $1,393,000 after buying an additional 506 shares during the period. Arete Wealth Advisors LLC boosted its holdings in Bank of New York Mellon by 36.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,121 shares of the bank's stock worth $478,000 after buying an additional 1,110 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Bank of New York Mellon by 44.7% during the fourth quarter. CreativeOne Wealth LLC now owns 14,906 shares of the bank's stock worth $1,730,000 after buying an additional 4,604 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Bank of New York Mellon by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock worth $326,000 after buying an additional 88 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.2%

NYSE:BNY opened at $143.74 on Friday. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $145.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $98.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.05 and a beta of 1.07. The stock has a 50-day moving average price of $135.19 and a two-hundred day moving average price of $123.80.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon's payout ratio is presently 26.27%.

Analyst Ratings Changes

A number of brokerages have recently commented on BNY. Evercore set a $136.00 price target on Bank of New York Mellon in a research note on Friday, April 17th. Wall Street Zen upgraded shares of Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Truist Financial increased their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Insiders Place Their Bets

In related news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the transaction, the executive vice president directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares of the company's stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 in the last three months. Insiders own 0.17% of the company's stock.

About Bank of New York Mellon

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world's capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.