Bank of New York Mellon Corporation $BNY Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 95.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,734 shares of the bank’s stock after purchasing an additional 14,498 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Bank of New York Mellon were worth $3,452,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares 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 $27,000. MCF Advisors LLC increased its stake in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC increased its stake 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 purchasing an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at $46,000. Finally, Godfrey Financial Associates Inc. acquired a new position in Bank of New York Mellon in the fourth quarter valued at $48,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.2%

Shares of Bank of New York Mellon stock opened at $143.74 on Friday. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $145.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The company’s 50-day simple moving average is $135.19 and its 200-day simple moving average is $123.80. The firm has a market cap of $98.66 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, equities research 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 Dividend Announcement

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 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%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on BNY. Weiss Ratings upgraded 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. Citigroup started coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Barclays boosted their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon 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.