AlphaQuest LLC Sells 12,860 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• AlphaQuest LLC cut its stake in Bank of New York Mellon by 31.1% in the fourth quarter, selling 12,860 shares and leaving it with 28,541 shares worth about $3.31 million.
• Several other institutional investors also adjusted their positions, and institutions still own a dominant 85.31% of BNY’s shares.
• BNY reported strong quarterly results, with EPS of $2.25 and revenue of $5.41 billion, both above analyst estimates, while analysts currently rate the stock a Moderate Buy with a consensus price target of $138.08.

AlphaQuest LLC trimmed its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,541 shares of the bank's stock after selling 12,860 shares during the period. AlphaQuest LLC's holdings in Bank of New York Mellon were worth $3,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $27,000. Marquette Asset Management LLC grew its stake in shares of Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after buying an additional 166 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon during the third quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth about $46,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after buying an additional 127 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares of the company's stock, valued at $6,857,487. This represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $139.15 on Tuesday. The firm has a market capitalization of $95.77 billion, a PE ratio of 17.24, a P/E/G ratio of 1.02 and a beta of 1.08. The stock's 50 day moving average is $128.10 and its 200 day moving average is $120.68. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $139.15. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 earnings per share. Research analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BNY shares. Morgan Stanley increased their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a report on Friday, April 17th. Weiss Ratings raised Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $130.00 to $142.00 and gave the company a "sector perform" rating in a research report on Friday, April 17th. Evercore set a $136.00 price objective on Bank of New York Mellon in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.08.

Bank of New York Mellon Profile

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.

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