Havemeyer Place LP Makes New $1.81 Million Investment in Bank of New York Mellon Corporation $BNY

Key Points

• Havemeyer Place LP initiated a new position in Bank of New York Mellon, buying 15,575 shares worth about $1.81 million in the fourth quarter.
• Institutional interest in BNY remains strong, with major holders like Vanguard and Norges Bank adding to or starting positions; institutions now own 85.31% of the company.
• BNY posted solid quarterly results, with EPS of $2.25 and revenue of $5.41 billion, both topping estimates, while also paying a $0.53 quarterly dividend.

Havemeyer Place LP bought a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,575 shares of the bank's stock, valued at approximately $1,808,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after buying an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 worth $1,454,116,000 after buying an additional 2,034,781 shares in the last quarter. Norges Bank purchased a new stake in Bank of New York Mellon in the fourth quarter worth approximately $1,398,624,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 worth $771,080,000 after buying an additional 6,119,749 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $142.65 on Friday. The firm has a market cap of $97.91 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $144.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50 day moving average price of $132.70 and a 200-day moving average price of $122.57.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Equities research analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share 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. Stockholders 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 dividend 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 26.27%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BNY shares. Citigroup started coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They issued a "neutral" rating for the company. JPMorgan Chase & Co. upped their target price on 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. 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. Evercore set a $136.00 price objective on Bank of New York Mellon in a research note on Friday, April 17th. Finally, Morgan Stanley increased their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a research note on Friday, April 17th. One research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Insiders Place Their Bets

In related news, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was 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 in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock worth $6,568,423 in the last ninety days. Insiders own 0.17% of the company's stock.

Bank of New York Mellon 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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