Vanguard Personalized Indexing Management LLC Buys 7,181 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• Vanguard Personalized Indexing Management increased its Bank of New York Mellon stake by 6.2% in the fourth quarter, buying 7,181 additional shares and bringing its total holding to 123,570 shares valued at about $14.3 million.
• Institutional ownership remains very high, with several large investors adding to positions, including Vanguard Group, Northwestern Mutual Wealth Management, Norges Bank, and UBS AM; institutions now own 85.31% of BNY stock.
• BNY posted strong quarterly results, reporting EPS of $2.25 versus estimates of $1.94 and revenue of $5.41 billion, while analysts have a consensus rating of “Moderate Buy” with an average price target of $138.08.

Vanguard Personalized Indexing Management LLC raised its stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,570 shares of the bank's stock after acquiring an additional 7,181 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Bank of New York Mellon were worth $14,345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Bank of New York Mellon by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. Norges Bank bought a new stake in Bank of New York Mellon in the 4th quarter valued at $1,398,624,000. Finally, 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 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 valued at $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity at Bank of New York Mellon

In related news, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon 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 trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 sale, the executive vice president owned 50,238 shares of the company's stock, valued at $6,857,487. The trade was a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BNY. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a "neutral" rating for the company. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. Royal Bank Of Canada lifted their price objective on shares of 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Bank of New York Mellon Price Performance

BNY stock opened at $143.74 on Monday. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $145.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $135.19 and a 200 day moving average price of $123.91. The stock has a market cap of $98.66 billion, a PE ratio of 17.81, a P/E/G ratio of 1.05 and a beta of 1.07.

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 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the company earned $1.58 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research 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 declared 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 payout ratio is currently 26.27%.

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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