Life Cycle Investment Partners Ltd Purchases Shares of 335,985 Bank of New York Mellon Corporation $BNY

Life Cycle Investment Partners Ltd purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNYFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 335,985 shares of the bank’s stock, valued at approximately $39,004,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNY. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 purchasing an additional 19,561,793 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Bank of New York Mellon by 639.5% during 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 worth $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 18.0% during the third 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. AQR Capital Management LLC lifted its position in shares of Bank of New York Mellon by 29.1% during the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock worth $438,418,000 after purchasing an additional 906,218 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $95,002,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In related news, 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 transaction of $719,545.80. Following the transaction, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 in the last three months. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup started coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Truist Financial increased their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a report on Friday, April 17th. Finally, Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research note on Friday, April 17th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Read Our Latest Analysis on Bank of New York Mellon

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $139.15 on Friday. The stock has a market cap of $95.77 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.02 and a beta of 1.08. 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 company has a fifty day moving average price of $127.66 and a two-hundred day moving average price of $120.37. Bank of New York Mellon Corporation has a one year low of $87.41 and a one year high of $139.15.

Bank of New York Mellon (NYSE:BNYGet Free Report) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company posted $1.58 EPS. Bank of New York Mellon’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given 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 of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

About Bank of New York Mellon

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BNY)

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