Bank of New York Mellon Corporation $BNY is Auxier Asset Management LLC’s 4th Largest Position

Auxier Asset Management LLC reduced its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,578 shares of the bank’s stock after selling 18,965 shares during the period. Bank of New York Mellon accounts for about 3.2% of Auxier Asset Management LLC’s investment portfolio, making the stock its 4th largest holding. Auxier Asset Management LLC’s holdings in Bank of New York Mellon were worth $22,589,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Abound Financial LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon in the fourth quarter worth about $27,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Marquette Asset Management LLC raised its holdings in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Finally, Heritage Wealth Advisors purchased a new position in Bank of New York Mellon in the fourth quarter worth about $31,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $145.84 on Thursday. The company has a 50 day moving average price of $136.48 and a 200-day moving average price of $124.62. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $146.74. The firm has a market capitalization of $100.10 billion, a PE ratio of 18.07, a P/E/G ratio of 1.05 and a beta of 1.07. 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 announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping 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 analyst estimates of $5.14 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts expect 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 business 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. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon’s payout ratio is currently 26.27%.

Analyst Ratings Changes

BNY has been the subject of several recent analyst reports. 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 report on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of 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. Royal Bank Of Canada lifted 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. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. One 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 currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by corporate 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.