Jupiter Asset Management Ltd. Acquires Shares of 179,762 Bank of New York Mellon Corporation $BNY

Jupiter Asset Management Ltd. acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 179,762 shares of the bank’s stock, valued at approximately $20,869,000.

Other large investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $27,000. Marquette Asset Management LLC boosted its position 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 buying an additional 166 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $46,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $48,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BNY opened at $139.38 on Friday. The company has a 50 day moving average price of $130.07 and a 200-day moving average price of $121.47. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $141.65. The stock has a market capitalization of $95.67 billion, a PE ratio of 17.27, a PEG ratio of 1.03 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.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend 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 is presently 26.27%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BNY. Truist Financial boosted their price objective on shares of 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. Royal Bank Of Canada boosted 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 report on Friday, April 17th. Citigroup began 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. JPMorgan Chase & Co. boosted 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 report on Monday, May 11th. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.08.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP Alejandro Perez sold 12,504 shares of the business’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 transaction of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This trade represents a 37.39% 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 worth $6,568,423 over the last quarter. 0.17% of the stock is currently owned by company 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.