Bank of New York Mellon Corporation $BNY Shares Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC boosted its stake in Bank of New York Mellon by 282.6% in the fourth quarter, ending with 92,414 shares valued at about $10.7 million.
• Insider selling was notable, with EVP J. Kevin McCarthy selling 30,000 shares and VP Shannon Marie Hobbs selling 297 shares on April 17; insiders sold 48,091 shares in the last quarter overall.
• Bank of New York Mellon reported better-than-expected quarterly results, including EPS of $2.25 versus estimates of $1.94 and revenue of $5.41 billion, while analysts currently hold a Moderate Buy consensus with an average price target of $138.08.

Axxcess Wealth Management LLC raised its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 282.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,414 shares of the bank's stock after acquiring an additional 68,262 shares during the period. Axxcess Wealth Management LLC's holdings in Bank of New York Mellon were worth $10,728,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BNY. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon during the 4th quarter valued at about $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 Bank of New York Mellon during the 3rd quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $46,000. Finally, Westside Investment Management Inc. raised its stake in Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company's stock, valued at $2,083,982.30. The trade was a 1.92% 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 valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Evercore set a $136.00 price target on Bank of New York Mellon in a report on Friday, April 17th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Barclays upped their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $130.50 to $140.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.08.

Bank of New York Mellon Price Performance

BNY stock opened at $137.67 on Friday. The firm has a market capitalization of $94.75 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.00 and a beta of 1.08. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $139.15. The business's 50-day moving average is $127.66 and its two-hundred day moving average is $120.37. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

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 for the quarter, beating the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.Bank of New York Mellon's 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. Analysts anticipate 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 business 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. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 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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