Savant Capital LLC Lowers Stock Holdings in Bank of New York Mellon Corporation $BNY

Savant Capital LLC trimmed its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 57.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,734 shares of the bank’s stock after selling 36,070 shares during the period. Savant Capital LLC’s holdings in Bank of New York Mellon were worth $3,104,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Bank of New York Mellon by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after purchasing an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing an additional 19,561,793 shares in the last quarter. Ameriprise Financial Inc. raised its position in Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Bank of New York Mellon by 0.5% in the 4th quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank’s stock valued at $668,105,000 after purchasing an additional 27,843 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BNY. Weiss Ratings raised Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Truist Financial increased their price target on 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. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Morgan Stanley raised their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $139.38 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market cap of $95.67 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The company’s 50 day simple moving average is $130.07 and its 200-day simple moving average is $121.47. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $141.65.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the business posted $1.58 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

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.