BI Asset Management Fondsmaeglerselskab A S Sells 6,252 Shares of Bank of New York Mellon Corporation $BNY

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,263 shares of the bank’s stock after selling 6,252 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bank of New York Mellon were worth $7,344,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BNY. Linscomb Wealth Inc. boosted its holdings in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock valued at $376,000 after acquiring an additional 80 shares during the last quarter. Ransom Advisory Ltd raised its position in Bank of New York Mellon by 1.3% during the fourth 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. raised its position in shares of Bank of New York Mellon by 0.9% in 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 last quarter. Essex Financial Services Inc. raised its position in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after buying an additional 89 shares during the last quarter. Finally, Vectors Research Management LLC raised its position in shares of Bank of New York Mellon by 0.7% in 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 last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BNY. Truist Financial upped their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Weiss Ratings raised 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. Finally, Royal Bank Of Canada increased their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

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 firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon 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 completion of the transaction, the vice president directly 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. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $142.65 on Friday. The company has a fifty day simple moving average of $132.70 and a two-hundred day simple moving average of $122.57. The company has a market cap of $97.91 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $144.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

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 company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued 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 dividend payout ratio (DPR) is presently 26.27%.

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.