Northwestern Mutual Wealth Management Co. Raises Stake in Bank of New York Mellon Corporation $BNY

Northwestern Mutual Wealth Management Co. boosted its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 7.5% in the 4th quarter, Holdings Channel reports. The firm owned 116,580 shares of the bank’s stock after acquiring an additional 8,171 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank of New York Mellon were worth $13,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ransom Advisory Ltd increased its holdings 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 stake in Bank of New York Mellon by 0.9% during the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after buying an additional 86 shares during the period. Vectors Research Management LLC boosted its stake in Bank of New York Mellon by 0.7% during the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after buying an additional 94 shares during the period. CFS Investment Advisory Services LLC grew its position in Bank of New York Mellon by 2.9% during the fourth quarter. CFS Investment Advisory Services LLC now owns 3,292 shares of the bank’s stock worth $382,000 after buying an additional 94 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its stake in 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 worth $414,000 after acquiring an additional 98 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 2.4%

Shares of NYSE:BNY opened at $142.71 on Tuesday. The stock has a market capitalization of $97.95 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The stock’s 50-day moving average price is $130.63 and its 200-day moving average price is $121.77. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $143.25.

Bank of New York Mellon (NYSE:BNY) 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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.Bank of New York Mellon’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. On average, equities analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

BNY has been the topic of several recent analyst reports. Morgan Stanley raised their price target 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. Truist Financial upped their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Barclays lifted 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 research report on Friday, April 17th. Citigroup assumed 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. Finally, Weiss Ratings upgraded 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. One equities research 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 stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Insider Activity

In related news, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the sale, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction 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 sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last three months. Corporate insiders own 0.17% of the company’s stock.

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.