Fideuram Asset Management Ireland dac Invests $1.20 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Bank of New York Mellon during the fourth quarter, buying 10,324 shares worth about $1.2 million.
• Wall Street sentiment on BNY remains constructive, with analysts assigning a Moderate Buy consensus rating and an average price target of $138.08.
• The company posted better-than-expected quarterly results, earning $2.25 per share on $5.41 billion in revenue, while also paying a quarterly dividend of $0.53 per share.

Fideuram Asset Management Ireland dac bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,324 shares of the bank's stock, valued at approximately $1,199,000.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $27,000. Marquette Asset Management LLC grew its holdings in shares of Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after buying an additional 166 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $46,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective 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. 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. Morgan Stanley upped their price objective 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. Weiss Ratings raised shares of Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Finally, Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a report on Friday, April 17th. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.08.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company's stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Down 0.8%

Shares of BNY stock opened at $139.38 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 firm has a market cap of $95.67 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.08. The company has a 50-day moving average of $130.07 and a two-hundred day moving average of $121.47. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $141.65.

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, topping the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. Bank of New York Mellon's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. 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 Announces Dividend

The business also recently announced 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 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 (DPR) is 26.27%.

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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