Global Retirement Partners LLC Buys 5,773 Shares of Bank of New York Mellon Corporation $BNY

Global Retirement Partners LLC raised its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 109.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,065 shares of the bank’s stock after acquiring an additional 5,773 shares during the period. Global Retirement Partners LLC’s holdings in Bank of New York Mellon were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BNY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Bank of New York Mellon in the 4th quarter valued at $27,000. Marquette Asset Management LLC boosted its holdings in Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter valued at $33,000. Westside Investment Management Inc. boosted its holdings in Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at $46,000. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BNY. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday. Royal Bank Of Canada increased their price objective on shares of 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, Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. One 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $139.15 on Monday. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $139.15. The stock has a market cap of $95.77 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $127.66 and a 200-day moving average of $120.46.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion during 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 business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. On average, equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced 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 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 dividend payout ratio (DPR) is 26.27%.

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. Company 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.