Martingale Asset Management L P Sells 71,141 Shares of Bank of New York Mellon Corporation $BNY

Martingale Asset Management L P cut its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 29.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,304 shares of the bank’s stock after selling 71,141 shares during the period. Martingale Asset Management L P’s holdings in Bank of New York Mellon were worth $19,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BNY. Northwestern Mutual Wealth Management Co. raised its position in Bank of New York Mellon by 18,044.4% during 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. Norges Bank bought a new stake in Bank of New York Mellon during the 4th quarter valued at $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Bank of New York Mellon by 639.5% during 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. Ameriprise Financial Inc. raised its position in Bank of New York Mellon by 18.0% during 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. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Bank of New York Mellon during the 4th quarter valued at $227,437,000. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This represents a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were 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 $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BNY shares. 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. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Citigroup initiated coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Trading Up 1.2%

BNY opened at $143.74 on Friday. The firm has a market cap of $98.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.04 and a beta of 1.07. 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 Corporation has a 12 month low of $87.41 and a 12 month high of $145.02. The stock has a fifty day moving average price of $135.19 and a 200-day moving average price of $123.80.

Bank of New York Mellon (NYSE:BNY) last released its quarterly 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. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. As a group, equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is currently 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.