Prudential PLC Sells 8,412 Shares of Bank of New York Mellon Corporation $BNY

Prudential PLC trimmed its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 4.3% during the 4th quarter, Holdings Channel reports. The firm owned 186,875 shares of the bank’s stock after selling 8,412 shares during the quarter. Prudential PLC’s holdings in Bank of New York Mellon were worth $21,694,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $27,000. Marquette Asset Management LLC grew its position in Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $46,000. Godfrey Financial Associates Inc. bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $48,000. Finally, Westside Investment Management Inc. grew its position in Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction 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 directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Barclays increased their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Finally, Truist Financial increased their price target 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. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Up 2.6%

Shares of Bank of New York Mellon stock opened at $144.24 on Friday. 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 Corporation has a 52-week low of $87.41 and a 52-week high of $144.98. The stock has a market capitalization of $99.00 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.03 and a beta of 1.07. The company’s 50 day moving average price is $132.20 and its 200-day moving average price is $122.43.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS 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. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

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.