Eurizon Capital SGR S.p.A. Buys New Stake in Bank of New York Mellon Corporation $BNY

Eurizon Capital SGR S.p.A. bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,956,924 shares of the bank’s stock, valued at approximately $227,437,000. Bank of New York Mellon comprises about 0.7% of Eurizon Capital SGR S.p.A.’s holdings, making the stock its 24th largest position.

Other hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at $27,000. Marquette Asset Management LLC grew its position in shares of 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. Valley Wealth Managers Inc. purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at $46,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at $48,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last quarter. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BNY. Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Weiss Ratings upgraded 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. Truist Financial increased their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Stock Down 0.8%

Shares of NYSE:BNY opened at $139.38 on Friday. The stock has a market cap of $95.67 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.03 and a beta of 1.08. The firm has a fifty day moving average price of $130.07 and a 200 day moving average price of $121.47. 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 Corporation has a 1-year low of $87.41 and a 1-year high of $141.65.

Bank of New York Mellon (NYSE:BNY) last released 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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business earned $1.58 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. 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 dividend payout ratio (DPR) is 26.27%.

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.