Clearstead Advisors LLC Buys 6,635 Shares of Bank of New York Mellon Corporation $BNY

Clearstead Advisors LLC boosted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 364.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,458 shares of the bank’s stock after buying an additional 6,635 shares during the period. Clearstead Advisors LLC’s holdings in Bank of New York Mellon were worth $982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in Bank of New York Mellon by 0.5% during the 4th quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank’s stock valued at $668,105,000 after buying an additional 27,843 shares in the last quarter. Genus Capital Management Inc. increased its holdings in shares of Bank of New York Mellon by 0.4% in the 4th quarter. Genus Capital Management Inc. now owns 82,482 shares of the bank’s stock worth $9,575,000 after purchasing an additional 345 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Bank of New York Mellon by 5.3% in the 4th quarter. HBK Sorce Advisory LLC now owns 2,672 shares of the bank’s stock worth $332,000 after purchasing an additional 135 shares in the last quarter. Todd Asset Management LLC increased its holdings in shares of 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 purchasing an additional 101,142 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Bank of New York Mellon by 2.0% in the 4th quarter. Swedbank AB now owns 886,883 shares of the bank’s stock worth $102,958,000 after purchasing an additional 17,157 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BNY has been the subject of a number of research analyst reports. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Barclays lifted their target price on 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. JPMorgan Chase & Co. lifted their target price on 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. Finally, Morgan Stanley lifted their target price on 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 given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Performance

BNY stock opened at $139.67 on Thursday. The company has a market cap of $95.87 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.08. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $141.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s fifty day moving average price is $129.09 and its 200-day moving average price is $121.13.

Bank of New York Mellon (NYSE:BNY) last released 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. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. On average, equities analysts forecast 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 company 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

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.