Prospera Financial Services Inc Has $2.22 Million Stock Position in Bank of New York Mellon Corporation $BNY

Key Points

• Prospera Financial Services more than doubled its stake in Bank of New York Mellon during the fourth quarter, increasing holdings by 106.5% to 19,126 shares valued at about $2.22 million.
• BNY reported strong quarterly results, posting EPS of $2.25 versus the $1.94 consensus estimate and revenue of $5.41 billion, up 12.9% year over year.
• The bank also raised shareholder returns with a quarterly dividend of $0.53 per share, while analysts remain moderately positive with an average price target of $138.08 and a “Moderate Buy” rating.

Prospera Financial Services Inc lifted its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 106.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,126 shares of the bank's stock after purchasing an additional 9,865 shares during the quarter. Prospera Financial Services Inc's holdings in Bank of New York Mellon were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bank of New York Mellon by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after purchasing an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bank of New York Mellon by 18,044.4% during 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 purchasing an additional 19,561,793 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after purchasing an additional 2,034,781 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 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 purchasing an additional 6,119,749 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Bank of New York Mellon by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank's stock worth $488,564,000 after purchasing an additional 66,010 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $141.38 on Wednesday. The stock's fifty day simple moving average is $128.60 and its 200 day simple moving average is $120.91. 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 $97.30 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 1.02 and a beta of 1.08. Bank of New York Mellon Corporation has a one year low of $87.41 and a one year high of $141.65.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon's payout ratio is presently 26.27%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares of the company's stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BNY shares. Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a "sector perform" rating in a report on Friday, April 17th. Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. Weiss Ratings raised Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Truist Financial lifted their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Finally, Morgan Stanley lifted their price objective on 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. One equities research 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $138.08.

Bank of New York Mellon Company 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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