Goldman Sachs Group Inc. decreased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,374,546 shares of the bank’s stock after selling 420,572 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Bank of New York Mellon were worth $740,021,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $27,000. Marquette Asset Management LLC lifted its position in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. Westside Investment Management Inc. lifted its position in Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $46,000. Finally, Dunhill Financial LLC lifted its position in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.
Bank of New York Mellon Stock Down 0.3%
BNY stock opened at $140.80 on Thursday. The company’s 50 day moving average price is $131.67 and its 200 day moving average price is $122.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $143.95. The firm has a market capitalization of $96.64 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.03 and a beta of 1.07.
Bank of New York Mellon Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BNY. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research report on Friday, April 17th. JPMorgan Chase & Co. upped 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 research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods upped 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 research report on Friday, April 17th. One 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.
Read Our Latest Analysis on BNY
Insider Activity
In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 over the last three months. 0.17% of the stock is currently owned by corporate insiders.
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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