UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Bank of New York Mellon Corporation $BNY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,040,568 shares of the bank’s stock after selling 36,161 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bank of New York Mellon were worth $817,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BNY. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $220,000. Sivia Capital Partners LLC increased its stake in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $2,482,000. Treasurer of the State of North Carolina increased its stake in shares of Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. increased its stake in shares of Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial lifted 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 note on Friday, April 17th. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Evercore set a $136.00 price target on Bank of New York Mellon in a research note on Friday, April 17th. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. One 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Trading Up 1.2%

Shares of Bank of New York Mellon stock opened at $143.74 on Friday. The stock has a market cap of $98.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.04 and a beta of 1.07. The stock’s 50 day simple moving average is $135.19 and its 200-day simple moving average is $123.80. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $145.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.58 EPS. Analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a dividend of $0.53 per share. 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 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.