Corient Private Wealth LLC Increases Holdings in Bank of New York Mellon Corporation $BNY

Corient Private Wealth LLC boosted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 257,048 shares of the bank’s stock after buying an additional 19,341 shares during the period. Corient Private Wealth LLC’s holdings in Bank of New York Mellon were worth $29,822,000 at the end of the most recent quarter.

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

Bank of New York Mellon Stock Up 0.0%

Shares of BNY opened at $143.64 on Monday. The company’s 50-day simple moving average is $137.17 and its 200-day simple moving average is $125.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $148.13. The stock has a market capitalization of $98.59 billion, a PE ratio of 17.80, a P/E/G ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating 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 firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Analysts Set New Price Targets

A number of brokerages have commented on BNY. 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 note on Friday, April 17th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Truist Financial raised their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Barclays lifted their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Finally, Citigroup began coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. One research 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 company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction on 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 in the company, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

About Bank of New York Mellon

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.