Bank of New York Mellon Corporation $BNY is Artisan Partners Limited Partnership’s 5th Largest Position

Artisan Partners Limited Partnership cut its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 3.8% in the fourth quarter, Holdings Channel reports. The firm owned 14,759,534 shares of the bank’s stock after selling 576,801 shares during the period. Bank of New York Mellon accounts for 2.6% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 5th largest holding. Artisan Partners Limited Partnership’s holdings in Bank of New York Mellon were worth $1,713,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BNY. Northwestern Mutual Wealth Management Co. grew its position in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Norges Bank bought a new stake in Bank of New York Mellon in the fourth quarter worth approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bank of New York Mellon by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. grew its position in 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 worth $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Bank of New York Mellon in the fourth quarter worth approximately $227,437,000. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods raised their price objective on 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. Royal Bank Of Canada raised their price objective 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, Morgan Stanley raised 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Up 1.3%

Shares of BNY stock opened at $144.32 on Wednesday. The stock’s 50 day simple moving average is $136.04 and its 200 day simple moving average is $124.38. 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 twelve month low of $87.41 and a twelve month high of $146.45. The company has a market capitalization of $99.06 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.04 and a beta of 1.07.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the business earned $1.58 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors 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 of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction that occurred 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 directly owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. 0.17% of the stock is currently owned by 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.