Bank of New York Mellon Corporation $BNY Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,953,391 shares of the bank’s stock after selling 457,097 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Bank of New York Mellon were worth $342,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BNY. Todd Asset Management LLC increased its holdings in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after acquiring an additional 101,142 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Bank of New York Mellon by 53.8% in the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after acquiring an additional 63,627 shares in the last quarter. First National Bank of Omaha purchased a new stake in Bank of New York Mellon in the 3rd quarter worth $3,044,000. Cullen Investment Group LTD. increased its holdings in Bank of New York Mellon by 1,691.4% in the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after acquiring an additional 36,568 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter worth $10,641,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $143.74 on Monday. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $145.02. The firm has a market capitalization of $98.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.05 and a beta of 1.07. The company has a fifty day simple moving average of $135.19 and a 200-day simple moving average of $123.91. 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 released its 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 during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date of this dividend 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 is currently 26.27%.

Insider Activity

In related 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 value of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares of the company’s stock, 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 document filed 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 shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BNY. 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 report on Friday, April 17th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped 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 raised 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, Morgan Stanley upped 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. One investment 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. Based on data from MarketBeat.com, Bank of New York Mellon currently 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.