Evelyn Partners Investment Management LLP Decreases Holdings in Bank of New York Mellon Corporation $BNY

Evelyn Partners Investment Management LLP cut its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 97.3% during the 4th quarter, HoldingsChannel reports. The fund owned 915 shares of the bank’s stock after selling 33,500 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Bank of New York Mellon were worth $106,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Linscomb Wealth Inc. raised its stake in shares of Bank of New York Mellon by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares in the last quarter. Ransom Advisory Ltd raised its stake in shares of Bank of New York Mellon by 1.3% during the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after acquiring an additional 85 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after purchasing an additional 86 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Bank of New York Mellon by 3.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after purchasing an additional 88 shares during the last quarter. Finally, Essex Financial Services Inc. grew its holdings in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after purchasing an additional 89 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $143.74 on Monday. The stock has a market cap of $98.66 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. The firm’s fifty day simple moving average is $135.19 and its 200 day simple moving average is $123.91. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $145.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

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 for the quarter, beating the consensus estimate of $1.94 by $0.31. The business 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%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. As a group, research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders 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 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BNY shares. Morgan Stanley raised 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 report on Friday, April 17th. Royal Bank Of Canada raised 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 report on Friday, April 17th. Truist Financial raised their target price 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of 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. One research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s 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 transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

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.