Prospera Financial Services Inc lifted its position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 106.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,126 shares of the bank’s stock after acquiring an additional 9,865 shares during the quarter. Prospera Financial Services Inc’s holdings in Bank of New York Mellon were worth $2,220,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ransom Advisory Ltd increased its stake in Bank of New York Mellon by 1.3% during the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after acquiring an additional 85 shares during the period. Mather Group LLC. boosted its holdings in shares of Bank of New York Mellon by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares in the last quarter. Vectors Research Management LLC boosted its holdings in shares of Bank of New York Mellon by 0.7% in the 4th quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after purchasing an additional 94 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.
Insider Buying and Selling
In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. 0.17% of the stock is owned by corporate insiders.
Bank of New York Mellon Trading Up 1.6%
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, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s payout ratio is presently 26.27%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Weiss Ratings raised Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday. Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.08.
View Our Latest Stock Analysis on BNY
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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