Los Angeles Capital Management LLC Has $10.31 Million Stake in Bank of New York Mellon Corporation $BNY

Los Angeles Capital Management LLC trimmed its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,550 shares of the bank’s stock after selling 38,081 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $10,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $74,000. Nemes Rush Group LLC boosted its position in shares of Bank of New York Mellon by 12.8% during the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after buying an additional 92 shares during the period. Havemeyer Place LP acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $1,808,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Finally, Pinebridge Investments LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth about $745,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $141.85 on Tuesday. The firm has a market cap of $97.36 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. 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 1-year low of $87.41 and a 1-year high of $144.98. The business’s 50 day moving average is $133.20 and its 200-day moving average is $122.92.

Bank of New York Mellon (NYSE:BNY) last announced 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. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Equities research analysts predict 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 paid a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BNY. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Royal Bank Of Canada upped their target price on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Citigroup began coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Morgan Stanley upped their target price on 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. Finally, Evercore set a $136.00 target price on Bank of New York Mellon in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.