Bank of New York Mellon Corporation $BNY Holdings Lowered by Brandes Investment Partners LP

Brandes Investment Partners LP trimmed its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 17.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 382,234 shares of the bank’s stock after selling 79,172 shares during the quarter. Brandes Investment Partners LP’s holdings in Bank of New York Mellon were worth $44,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Linscomb Wealth Inc. raised its position in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after buying an additional 80 shares in the last quarter. Ransom Advisory Ltd raised its position in shares of 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 buying an additional 85 shares in the last quarter. Mather Group LLC. raised its position in shares of Bank of New York Mellon by 0.9% during the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after buying an additional 86 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after buying an additional 89 shares in the last quarter. Finally, Nemes Rush Group LLC raised its position in shares of Bank of New York Mellon by 12.8% during the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after buying an additional 92 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $143.12 on Wednesday. The firm’s 50 day simple moving average is $133.77 and its 200-day simple moving average is $123.17. The company has a market cap of $98.23 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick 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 $144.98.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. 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 presently 26.27%.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’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 transaction, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’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 transaction 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. The trade was a 37.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a report on Friday, April 17th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $138.08.

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.