Bank of New York Mellon Corporation $BNY Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Bank of New York Mellon Corporation (NYSE:BNY) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,263 shares of the bank’s stock after selling 6,252 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bank of New York Mellon were worth $7,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon in the 4th quarter valued at $27,000. Marquette Asset Management LLC grew 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 last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at $46,000. Dunhill Financial LLC grew its position in Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the last quarter. Finally, Community Bank N.A. grew its position in Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after buying an additional 313 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $142.65 on Friday. The stock has a market cap of $97.91 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $144.98. The company’s 50-day moving average price is $132.70 and its 200 day moving average price is $122.57. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. As a group, research analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BNY shares. Keefe, Bruyette & Woods lifted 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. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research report on Friday, April 17th. Truist Financial boosted their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. One research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Company 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.