Todd Asset Management LLC Has $43.07 Million Stake in Bank of New York Mellon Corporation $BNY

Todd Asset Management LLC grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 37.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,998 shares of the bank’s stock after purchasing an additional 101,142 shares during the period. Todd Asset Management LLC’s holdings in Bank of New York Mellon were worth $43,069,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BNY. Ransom Advisory Ltd increased its holdings in Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after buying an additional 85 shares during the last quarter. Mather Group LLC. increased its holdings in Bank of New York Mellon by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after buying an additional 86 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after buying an additional 94 shares during the last quarter. Vectors Research Management LLC increased its holdings in Bank of New York Mellon by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock worth $1,507,000 after buying an additional 94 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in Bank of New York Mellon by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock worth $414,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were 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. This represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $139.15 on Monday. The stock has a market capitalization of $95.77 billion, a P/E ratio of 17.24, a PEG ratio of 1.02 and a beta of 1.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average price of $127.66 and a two-hundred day moving average price of $120.46. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion during 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 company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. Equities analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current 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 given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

A number of equities analysts recently commented on BNY shares. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday. Truist Financial increased their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Morgan Stanley increased their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. Finally, Citigroup started coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.