Bank of New York Mellon Corporation $BNY Shares Sold by Private Management Group Inc.

Private Management Group Inc. lessened its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,544 shares of the bank's stock after selling 65,514 shares during the period. Bank of New York Mellon comprises 1.2% of Private Management Group Inc.'s portfolio, making the stock its 15th largest holding. Private Management Group Inc. owned approximately 0.05% of Bank of New York Mellon worth $40,695,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $27,000. MCF Advisors LLC grew its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock valued at $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC grew its holdings in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after purchasing an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $46,000. Finally, Dunhill Financial LLC grew its holdings in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a "neutral" rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of 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. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Finally, Barclays boosted 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 note 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.08.

Bank of New York Mellon Price Performance

BNY opened at $142.12 on Friday. The company has a market cap of $97.55 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.02 and a beta of 1.07. The company has a 50 day moving average of $134.74 and a two-hundred day moving average of $123.66. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. 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 announced 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. On average, analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current 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. 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 Activity

In other news, EVP Alejandro Perez sold 12,504 shares of the company's stock in a transaction 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 directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares of the company's stock, 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 a total of 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is owned by company insiders.

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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