Bank of New York Mellon Corporation $BNY Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 25.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,829 shares of the bank’s stock after selling 44,073 shares during the period. Investment Management Corp of Ontario’s holdings in Bank of New York Mellon were worth $14,724,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BNY. Linscomb Wealth Inc. increased its position in 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 buying an additional 80 shares in the last quarter. Ransom Advisory Ltd lifted its position in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after acquiring an additional 85 shares in the last quarter. Mather Group LLC. lifted its position 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 valued at $1,072,000 after acquiring an additional 86 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock valued at $326,000 after acquiring an additional 88 shares during the last quarter. Finally, Essex Financial Services Inc. increased its position in Bank of New York Mellon by 0.5% during the 4th 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 in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $145.84 on Thursday. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $146.74. 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 50 day moving average price of $136.48 and a 200 day moving average price of $124.62. The company has a market cap of $100.10 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm posted $1.58 earnings per share. Bank of New York Mellon’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict 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 company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors 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 (DPR) is 26.27%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value 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 represents a 1.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last ninety days. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BNY shares. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research note on Friday, April 17th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped 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. Finally, 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 research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

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.