Clearstead Advisors LLC Increases Holdings in Bank of New York Mellon Corporation $BNY

Clearstead Advisors LLC grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 364.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,458 shares of the bank’s stock after acquiring an additional 6,635 shares during the period. Clearstead Advisors LLC’s holdings in Bank of New York Mellon were worth $982,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Legal & General Group Plc lifted its position in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank’s stock valued at $668,105,000 after acquiring an additional 27,843 shares in the last quarter. Genus Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Genus Capital Management Inc. now owns 82,482 shares of the bank’s stock valued at $9,575,000 after acquiring an additional 345 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Bank of New York Mellon by 5.3% in the fourth quarter. HBK Sorce Advisory LLC now owns 2,672 shares of the bank’s stock valued at $332,000 after acquiring an additional 135 shares in the last quarter. Todd Asset Management LLC grew its position in shares of Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after purchasing an additional 101,142 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Bank of New York Mellon by 2.0% during the fourth quarter. Swedbank AB now owns 886,883 shares of the bank’s stock valued at $102,958,000 after purchasing an additional 17,157 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.0%

Shares of BNY stock opened at $139.67 on Thursday. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $141.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50 day simple moving average is $129.09 and its two-hundred day simple moving average is $121.13. The company has a market cap of $95.87 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.08.

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 (EPS) 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 in the prior year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Research 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 business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders 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 yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is 26.27%.

Insider Buying and Selling

In other news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred on 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 directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% 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, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was 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 owned 62,613 shares in the company, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BNY has been the topic of a number of research analyst reports. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Evercore set a $136.00 price target on Bank of New York Mellon in a research note on Friday, April 17th. Barclays increased their price target on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Royal Bank Of Canada increased their price target 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, Keefe, Bruyette & Woods increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average 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.