Savant Capital LLC Lowers Position in Bank of New York Mellon Corporation $BNY

Key Points

• Savant Capital LLC cut its stake in Bank of New York Mellon by 57.4% in the fourth quarter, selling 36,070 shares and leaving it with 26,734 shares worth about $3.1 million.
• BNY’s latest quarterly results beat expectations, with EPS of $2.25 versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% from a year earlier.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $138.08, while the company also pays a quarterly dividend of $0.53 per share.

Savant Capital LLC lessened its stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,734 shares of the bank's stock after selling 36,070 shares during the period. Savant Capital LLC's holdings in Bank of New York Mellon were worth $3,104,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BNY. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $220,000. Sivia Capital Partners LLC boosted its position in Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock worth $309,000 after purchasing an additional 909 shares in the last quarter. Jump Financial LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $2,482,000. Treasurer of the State of North Carolina boosted its position in Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock worth $30,466,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. boosted its position in Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock worth $109,000 after purchasing an additional 1,189 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company's stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BNY shares. 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. Royal Bank Of Canada upped their target price on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a "sector perform" rating in a research note on Friday, April 17th. 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 price objective on Bank of New York Mellon from $143.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Finally, Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $139.38 on Friday. The stock has a market cap of $95.67 billion, a PE ratio of 17.27, a P/E/G ratio of 1.02 and a beta of 1.08. 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 Corporation has a twelve month low of $87.41 and a twelve month high of $141.65. The stock has a fifty day simple moving average of $130.07 and a 200-day simple moving average of $121.47.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $5.41 billion during the quarter, compared to analysts' expectations 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 company's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. Equities 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 Announces Dividend

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

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.

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.