Jupiter Asset Management Ltd. Purchases Shares of 179,762 Bank of New York Mellon Corporation $BNY

Key Points

• Jupiter Asset Management disclosed a new fourth-quarter stake in Bank of New York Mellon, buying 179,762 shares valued at about $20.9 million.
• BNY reported better-than-expected quarterly results, with earnings of $2.25 per share versus estimates of $1.94 and revenue of $5.41 billion, up 12.9% year over year.
• The company also paid a quarterly dividend of $0.53 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $138.08.

Jupiter Asset Management Ltd. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 179,762 shares of the bank's stock, valued at approximately $20,869,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Bank of New York Mellon by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bank of New York Mellon by 18,044.4% in the 4th 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. grew its stake in shares of Bank of New York Mellon by 18.0% in the 3rd 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Bank of New York Mellon by 639.5% in the 3rd 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 during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Bank of New York Mellon by 0.5% in the 4th quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank's stock worth $668,105,000 after buying an additional 27,843 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

BNY stock opened at $139.38 on Friday. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $141.65. 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 company has a 50-day moving average price of $130.07 and a 200 day moving average price of $121.47. The stock has a market cap of $95.67 billion, a PE ratio of 17.27, a P/E/G ratio of 1.03 and a beta of 1.08.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping 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 company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis 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 26.27%.

Insider Activity

In related 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 value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company's stock, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the executive vice president directly owned 62,613 shares in the company, valued at $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. Over the last quarter, insiders sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

BNY has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Evercore set a $136.00 target price on shares of Bank of New York Mellon 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 stock an "equal weight" rating in a report on Friday, April 17th. Barclays boosted their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding BNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corporation (NYSE:BNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.