MUFG Securities EMEA plc Boosts Stake in Bank of New York Mellon Corporation $BNY

Key Points

• MUFG Securities EMEA plc sharply increased its position in Bank of New York Mellon, boosting its stake by 674.7% in the fourth quarter to 104,571 shares valued at about $12.14 million.
• Bank of New York Mellon beat quarterly expectations, reporting EPS of $2.25 versus the $1.94 estimate and revenue of $5.41 billion, up 12.9% year over year.
• Analysts remain broadly positive on BNY, with a consensus rating of “Moderate Buy” and an average price target of $138.08, while the stock recently traded near its 52-week high.

MUFG Securities EMEA plc increased its stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 674.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,571 shares of the bank's stock after purchasing an additional 91,072 shares during the quarter. MUFG Securities EMEA plc's holdings in Bank of New York Mellon were worth $12,140,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $27,000. Marquette Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $46,000. Finally, Dunhill Financial LLC increased its holdings in shares of Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated 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 sale, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 in the last quarter. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BNY. Wall Street Zen upgraded shares of Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Barclays increased their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Truist Financial increased their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, April 17th. Citigroup began coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a "neutral" rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of 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. One 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's stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $139.38 on Monday. The stock has a market cap of $95.67 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.02 and a beta of 1.07. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $141.65. The company's 50-day moving average price is $130.07 and its 200 day moving average price is $121.55. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. As a group, research analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm 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 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 presently 26.27%.

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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