Forsta AP Fonden increased its holdings in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,400 shares of the bank’s stock after acquiring an additional 23,600 shares during the quarter. Forsta AP Fonden’s holdings in Bank of New York Mellon were worth $24,425,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $27,000. Marquette Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $46,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $48,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BNY. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted 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 research note on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. Finally, Weiss Ratings raised shares of 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 issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus 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 business’s stock in a transaction on 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 directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. Company insiders own 0.17% of the company’s stock.
Bank of New York Mellon Stock Performance
Shares of BNY opened at $139.38 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $95.67 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.02 and a beta of 1.08. The company’s fifty day moving average is $130.07 and its two-hundred day moving average is $121.47. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $141.65.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. The company 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%. Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. On average, sell-side analysts predict 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 business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s payout ratio is presently 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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