Cynosure Group LLC Purchases Shares of 4,174 Bank of New York Mellon Corporation $BNY

Cynosure Group LLC purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,174 shares of the bank’s stock, valued at approximately $485,000.

A number of other hedge funds have also added to or reduced their stakes in BNY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $27,000. MCF Advisors LLC lifted its position in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares in the last quarter. Marquette Asset Management LLC lifted its position in shares of Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BNY has been the topic of several recent analyst reports. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Morgan Stanley lifted 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 research report on Friday, April 17th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Royal Bank Of Canada lifted 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 report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, 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 related news, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction 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 sale, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 1.3%

NYSE:BNY opened at $144.32 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $99.06 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The firm’s 50 day moving average is $136.04 and its 200 day moving average is $124.38. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $146.45.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS 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 analysts’ expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. Bank of New York Mellon’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s payout ratio is 26.27%.

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.