Bank of New York Mellon Corporation $BNY Shares Bought by Todd Asset Management LLC

Key Points

• Todd Asset Management increased its Bank of New York Mellon stake by 37.5% in Q4, buying an additional 101,142 shares and bringing its holding to 370,998 shares worth about $43.1 million.
• Analysts remain generally bullish on BNY, with several firms raising price targets and the consensus rating standing at Moderate Buy with a target price of $138.08.
• The bank posted strong quarterly results, beating earnings and revenue estimates, while also declaring a quarterly dividend of $0.53 per share for a 1.5% annualized yield.

Todd Asset Management LLC grew its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 37.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 370,998 shares of the bank's stock after acquiring an additional 101,142 shares during the quarter. Todd Asset Management LLC owned about 0.05% of Bank of New York Mellon worth $43,069,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $220,000. Sivia Capital Partners LLC lifted its stake in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock worth $309,000 after acquiring an additional 909 shares during the period. Jump Financial LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $2,482,000. Treasurer of the State of North Carolina lifted its stake in shares of Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock worth $30,466,000 after acquiring an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. lifted its stake in shares of Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock worth $109,000 after acquiring an additional 1,189 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a report on Saturday. Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a "sector perform" rating in a report on Friday, April 17th. Finally, Evercore set a $136.00 price target on shares of Bank of New York Mellon in a 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. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.08.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's 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 sale, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

NYSE BNY opened at $139.15 on Monday. The stock's 50-day moving average price is $127.66 and its two-hundred day moving average price is $120.46. 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 company has a market cap of $95.77 billion, a PE ratio of 17.24, a PEG ratio of 1.02 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.

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 the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for 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 business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 EPS. On average, analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Bank of New York Mellon Company 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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