Fideuram Asset Management Ireland dac purchased a new position 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 & Exchange Commission. The institutional investor purchased 10,324 shares of the bank’s stock, valued at approximately $1,199,000.
Several other hedge funds have also made changes to their positions in BNY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $27,000. Marquette Asset Management LLC lifted its position in shares of Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon during the third quarter worth about $33,000. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 85.31% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Citigroup began 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. Barclays raised their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” 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 report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.
Insider Activity at Bank of New York Mellon
In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% 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.
Bank of New York Mellon Stock Down 0.8%
Shares of NYSE:BNY opened at $139.38 on Friday. The firm’s 50 day moving average price is $130.07 and its 200 day moving average price is $121.47. The stock has a market cap of $95.67 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.08. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two 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.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.60% and a return on equity of 15.29%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.
Bank of New York Mellon Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is currently 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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