Corient Private Wealth LLC Grows Stock Position in Bank of New York Mellon Corporation $BNY

Key Points

• Corient Private Wealth LLC increased its stake in Bank of New York Mellon by 8.1% in the fourth quarter, adding 19,341 shares to bring its total holdings to 257,048 shares worth about $29.8 million.
• Bank of New York Mellon posted strong quarterly results, reporting EPS of $2.25 versus expectations of $1.94 and revenue of $5.41 billion, both ahead of analyst estimates. Revenue also rose 12.9% from a year earlier.
• Analysts remain broadly positive on BNY, with a consensus rating of “Moderate Buy” and an average price target of $138.08, while recent insider sales and a quarterly dividend of $0.53 per share were also disclosed.

Corient Private Wealth LLC lifted its stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 257,048 shares of the bank's stock after buying an additional 19,341 shares during the quarter. Corient Private Wealth LLC's holdings in Bank of New York Mellon were worth $29,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Todd Asset Management LLC increased its holdings in Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank's stock valued at $43,069,000 after buying an additional 101,142 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank's stock worth $21,129,000 after acquiring an additional 63,627 shares in the last quarter. Cullen Investment Group LTD. boosted its stake in shares of Bank of New York Mellon by 1,691.4% during the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank's stock worth $4,610,000 after acquiring an additional 36,568 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $10,641,000. Finally, Empirical Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $2,301,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.0%

BNY stock opened at $143.64 on Monday. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $148.13. The business's 50-day moving average is $137.17 and its 200 day moving average is $125.07. 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 stock has a market cap of $98.59 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to analysts' expectations 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 was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 earnings per share. On average, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm'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 approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $4,095,000.00. Following the sale, the executive vice president directly owned 50,238 shares of the company's stock, valued at $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 sold a total of 48,091 shares of company stock valued at $6,568,423 in the last 90 days. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

BNY has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an "equal weight" rating in a report on Friday, April 17th. 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 report on Monday, May 11th. Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada increased their target price 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 equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

About Bank of New York Mellon

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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