Bank of New York Mellon Corporation $BNY Shares Bought by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

Key Points

• Institutional buying surged in Bank of New York Mellon, led by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna, which increased its stake by 19,412.1% in the fourth quarter. Several other major funds, including Vanguard and Northwestern Mutual Wealth Management, also expanded their positions.
• Analysts remain generally bullish on BNY, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating. The average price target is $138.08, with some analysts setting targets as high as $150.
• The company beat earnings expectations in its latest quarter, reporting EPS of $2.25 versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% year over year. BNY also paid a quarterly dividend of $0.53, implying a 1.5% yield.

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 19,412.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,878 shares of the bank's stock after acquiring an additional 20,771 shares during the quarter. Bank of New York Mellon accounts for approximately 0.9% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna's holdings, making the stock its 29th largest position. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna's holdings in Bank of New York Mellon were worth $2,424,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $8,279,525,000 after purchasing an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. boosted 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 valued at $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. Ameriprise Financial Inc. boosted 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 valued at $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. Norges Bank acquired a new position in Bank of New York Mellon during the 4th quarter valued at approximately $1,398,624,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $771,080,000 after purchasing an additional 6,119,749 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Evercore set a $136.00 price objective on Bank of New York Mellon in a research report on Friday, April 17th. Barclays boosted their price objective on Bank of New York Mellon from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted 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 report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $138.08.

Bank of New York Mellon Stock Performance

BNY opened at $142.65 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $97.91 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The business has a 50 day moving average price of $132.70 and a two-hundred day moving average price of $122.57. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $144.98.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.41 billion during 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%.The company's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction 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 in the company, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares of the company's stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company's stock.

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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