Nuveen LLC lowered its position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,763,540 shares of the bank’s stock after selling 752,807 shares during the quarter. Nuveen LLC’s holdings in Bank of New York Mellon were worth $785,179,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $27,000. MCF Advisors LLC raised its position in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Marquette Asset Management LLC raised its position 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 worth $30,000 after purchasing an additional 166 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $46,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup assumed coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Finally, Evercore set a $136.00 price target on Bank of New York Mellon in a research report on Friday, April 17th. One investment 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.08.
Insiders Place Their Bets
In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
Bank of New York Mellon Price Performance
Shares of NYSE:BNY opened at $142.12 on Friday. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $144.98. The business has a 50-day simple moving average of $134.74 and a two-hundred day simple moving average of $123.66. 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 firm has a market cap of $97.55 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07.
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, topping analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Bank of New York Mellon’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current year.
Bank of New York Mellon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon’s payout ratio is 26.27%.
About Bank of New York Mellon
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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