Bank of New York Mellon Corp Sells 169,846 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• Bank of New York Mellon Corp reduced its stake in BNY by 4.5% in the fourth quarter, selling 169,846 shares and leaving it with 3,615,913 shares valued at about $419.8 million.
• The stock has seen strong institutional interest overall, with large holders like Vanguard and Norges Bank adding positions; institutions now own about 85.31% of the company.
• Analysts remain generally positive on BNY after solid earnings and revenue beats, and the company also paid a quarterly dividend of $0.53 per share, implying an annualized yield of about 1.5%.

Bank of New York Mellon Corp cut its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,615,913 shares of the bank's stock after selling 169,846 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.52% of Bank of New York Mellon worth $419,771,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Bank of New York Mellon by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. grew its position in Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. Norges Bank bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $1,398,624,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BNY shares. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Evercore set a $136.00 price target on Bank of New York Mellon in a research report on Friday, April 17th. Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Finally, Morgan Stanley raised their price target on 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Insider Transactions at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 2.6%

BNY opened at $144.24 on Friday. The stock has a market cap of $99.00 billion, a PE ratio of 17.87, a PEG ratio of 1.03 and a beta of 1.07. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $132.20 and a 200-day moving average of $122.43. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $144.98.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis 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%.

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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