Themes Management Co LLC Makes New Investment in Bank of New York Mellon Corporation $BNY

Key Points

• Themes Management Co LLC initiated a new position in Bank of New York Mellon, buying 8,604 shares valued at about $999,000 in the fourth quarter.
• Institutional ownership remains very high, with 85.31% of BNY shares held by hedge funds and other institutional investors. Several large firms, including Vanguard and Northwestern Mutual, also increased their stakes recently.
• BNY posted strong quarterly results, with EPS of $2.25 beating estimates and revenue of $5.41 billion topping expectations. Analysts remain mostly constructive, with an average rating of Moderate Buy and an average price target of $138.08.

Themes Management Co LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,604 shares of the bank's stock, valued at approximately $999,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after purchasing an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Bank of New York Mellon by 18,044.4% during the fourth 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 during the period. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $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 Bank of New York Mellon by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock valued at $771,080,000 after buying an additional 6,119,749 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank's stock valued at $668,105,000 after acquiring an additional 27,843 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $139.15 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $139.15. The stock has a market cap of $95.77 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The firm has a 50 day simple moving average of $128.10 and a 200-day simple moving average of $120.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results 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 return on equity of 15.29% and a net margin of 14.60%.Bank of New York Mellon's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. Equities analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BNY shares. Barclays upped their price target 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. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank Of Canada boosted 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 report on Friday, April 17th. Morgan Stanley raised their price target on Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Finally, Weiss Ratings raised Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $138.08.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the company'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 transaction, the vice president directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 in the last ninety days. 0.17% of the stock is currently owned by insiders.

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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