Bank of New York Mellon Corporation $BNY Stock Position Reduced by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its position in Bank of New York Mellon Corporation (NYSE:BNY) by 82.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,999 shares of the bank’s stock after selling 260,618 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Bank of New York Mellon were worth $6,617,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BNY. Vanguard Group Inc. boosted its holdings in Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after purchasing an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $1,398,624,000. Finally, Invesco Ltd. lifted its position in shares of Bank of New York Mellon by 8.2% in the 4th quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after buying an additional 578,999 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BNY opened at $143.64 on Friday. 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 business’s 50 day moving average is $137.17 and its 200-day moving average is $124.97. The stock has a market cap of $98.59 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $148.13.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data 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 return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on BNY shares. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Barclays increased their price objective 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. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Royal Bank Of Canada lifted their target price on Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Finally, Evercore set a $136.00 price target on Bank of New York Mellon in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the sale, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. The trade was 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 available through the SEC website. 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 completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

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.