Bank of New York Mellon Corporation $BNY Shares Sold by O Shaughnessy Asset Management LLC

Key Points

• O Shaughnessy Asset Management cut its stake in Bank of New York Mellon by 20.9% in the fourth quarter, selling 140,851 shares and leaving it with 534,120 shares worth about $62.0 million.
• Insider selling also continued, with EVP Alejandro Perez and insider Kurtis R. Kurimsky both selling shares in April; insiders have sold 48,091 shares worth $6.57 million over the past three months.
• Bank of New York Mellon reported strong quarterly results, beating earnings and revenue estimates, while analysts remain generally positive with a consensus Moderate Buy rating and average price target of $138.08.

O Shaughnessy Asset Management LLC reduced its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534,120 shares of the bank's stock after selling 140,851 shares during the period. O Shaughnessy Asset Management LLC owned 0.08% of Bank of New York Mellon worth $62,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bank of New York Mellon by 639.5% in the third 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 acquiring an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Bank of New York Mellon by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $227,437,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the company's stock in a transaction 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last three months. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Up 0.2%

NYSE:BNY opened at $142.65 on Monday. 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 stock's fifty day moving average is $132.70 and its two-hundred day moving average is $122.68. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $144.98. The stock 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.

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

Bank of New York Mellon Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $130.50 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.08.

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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