Aigen Investment Management LP Purchases 25,859 Shares of Bank of New York Mellon Corporation $BNY

Aigen Investment Management LP increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 722.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,436 shares of the bank’s stock after buying an additional 25,859 shares during the period. Bank of New York Mellon comprises 0.8% of Aigen Investment Management LP’s portfolio, making the stock its 17th biggest holding. Aigen Investment Management LP’s holdings in Bank of New York Mellon were worth $3,417,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research firms have issued reports on BNY. Morgan Stanley upped their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” 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. Barclays upped their price objective on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Truist Financial upped their target price on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.08.

Insider Buying and Selling

In related news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred 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 $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 1.2%

Shares of NYSE:BNY opened at $143.74 on Friday. The company has a market capitalization of $98.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.05 and a beta of 1.07. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $145.02. 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 business’s 50 day simple moving average is $135.19 and its 200 day simple moving average is $123.80.

Bank of New York Mellon (NYSE:BNY) last issued 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 business 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 firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. On average, research 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 business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.

Bank of New York Mellon Company 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.