Jefferies Financial Group Inc. Boosts Holdings in Bank of New York Mellon Corporation $BNY

Key Points

• Jefferies Financial Group increased its stake in Bank of New York Mellon by 14.6% in the fourth quarter, adding 17,892 shares to bring its total holdings to 140,689 shares worth about $16.3 million.
• Institutional ownership remains very high, with 85.31% of BNY stock held by hedge funds and other institutions; several large investors also significantly expanded their positions during the period.
• Analysts remain generally positive on BNY, with a consensus rating of “Moderate Buy” and an average price target of $138.08, while the stock recently hit a 1-year high of $139.15 after strong quarterly earnings and a dividend payout.

Jefferies Financial Group Inc. raised its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,689 shares of the bank's stock after acquiring an additional 17,892 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Bank of New York Mellon were worth $16,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BNY. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bank of New York Mellon by 18,044.4% during 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Bank of New York Mellon by 639.5% during 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. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 18.0% during 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. AQR Capital Management LLC grew its holdings in shares of Bank of New York Mellon by 29.1% during the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank's stock worth $438,418,000 after buying an additional 906,218 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $95,002,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNY has been the subject of several analyst reports. Citigroup initiated coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They issued a "neutral" rating for the company. Barclays increased their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods increased 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 report on Friday, April 17th. Finally, JPMorgan Chase & Co. increased 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 report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $139.15 on Monday. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $139.15. The firm has a 50 day moving average price of $127.66 and a 200 day moving average price of $120.46. The company has a market cap of $95.77 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. Bank of New York Mellon's revenue was up 12.9% compared to the same quarter last year. Sell-side 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. 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 payout ratio is presently 26.27%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The shares were 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 approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 in the last ninety days. 0.17% of the stock is owned by company insiders.

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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