Gradient Capital Advisors LLC Acquires 7,381 Shares of Bank of New York Mellon Corporation $BNY

Gradient Capital Advisors LLC grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 123.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,342 shares of the bank’s stock after purchasing an additional 7,381 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $1,549,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BNY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 during the last quarter. AQR Capital Management LLC boosted its stake in shares of Bank of New York Mellon by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after purchasing an additional 906,218 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $95,002,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $137.67 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. The company has a market capitalization of $94.75 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. The company’s 50 day moving average price is $127.66 and its two-hundred day moving average price is $120.37. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $139.15.

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

Bank of New York Mellon Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 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 $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 $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $719,545.80. Following the completion of the sale, 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. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BNY has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note 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 research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.