42,883 Shares in Bank of New York Mellon Corporation $BNY Purchased by VMS Asset Management Limited

VMS Asset Management Limited acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the fourth quarter, HoldingsChannel reports. The fund acquired 42,883 shares of the bank’s stock, valued at approximately $4,978,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Linscomb Wealth Inc. lifted its stake in Bank of New York Mellon by 2.5% in the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares during the period. Ransom Advisory Ltd lifted its stake 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 acquiring an additional 85 shares during the period. Mather Group LLC. lifted its stake 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 acquiring an additional 86 shares during the period. Essex Financial Services Inc. lifted its stake in Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after acquiring an additional 89 shares during the period. Finally, Vectors Research Management LLC lifted its stake 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 acquiring an additional 94 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

BNY opened at $144.24 on Friday. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98. 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 company has a market cap of $99.00 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The firm’s 50-day moving average price is $132.20 and its 200-day moving average price is $122.43.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company posted $1.58 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 disclosed 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. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is 26.27%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BNY. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Citigroup began coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Truist Financial boosted their target price on shares of 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. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Finally, Morgan Stanley boosted their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

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.