SBI Okasan Asset Management Co.Ltd. Buys New Holdings in Bank of New York Mellon Corporation $BNY

Key Points

• SBI Okasan Asset Management opened a new position in Bank of New York Mellon during the fourth quarter, buying 11,960 shares valued at about $1.405 million.
• Institutional interest remains strong, with hedge funds and asset managers holding about 85.31% of BNY’s shares, while several firms recently increased or initiated positions.
• Analysts remain constructive on the stock: multiple firms raised price targets, and BNY reported quarterly earnings and revenue that beat expectations, along with a recent quarterly dividend of $0.53 per share.

SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,960 shares of the bank's stock, valued at approximately $1,405,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Bank of New York Mellon by 7.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 116,580 shares of the bank's stock worth $13,534,000 after acquiring an additional 8,171 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $20,869,000. CFS Investment Advisory Services LLC increased its stake in Bank of New York Mellon by 2.9% in the 4th quarter. CFS Investment Advisory Services LLC now owns 3,292 shares of the bank's stock worth $382,000 after acquiring an additional 94 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Bank of New York Mellon by 9.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 4,120 shares of the bank's stock worth $478,000 after purchasing an additional 368 shares during the period. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $48,000. Institutional investors own 85.31% of the company's stock.

Insider Activity

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm's 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 in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BNY. Morgan Stanley lifted their target price 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. Barclays lifted their target price on 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. Keefe, Bruyette & Woods lifted their target price on 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. Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. lifted their target price on 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 research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Bank of New York Mellon Price Performance

BNY opened at $140.60 on Friday. The business has a fifty day moving average of $129.58 and a 200 day moving average of $121.35. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $141.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $96.51 billion, a P/E ratio of 17.42, a PEG ratio of 1.02 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The company 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%.Bank of New York Mellon's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 EPS. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon's 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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