Franklin Resources Inc. Decreases Position in Bank of New York Mellon Corporation $BNY

Franklin Resources Inc. cut its position in Bank of New York Mellon Corporation (NYSE:BNY) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,563,109 shares of the bank’s stock after selling 71,751 shares during the period. Franklin Resources Inc.’s holdings in Bank of New York Mellon were worth $181,461,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon in the fourth quarter worth about $27,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Marquette Asset Management LLC raised its holdings in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $46,000. Finally, Dunhill Financial LLC grew its stake in shares of Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

BNY opened at $143.12 on Wednesday. The firm has a market cap of $98.23 billion, a P/E ratio of 17.73, a PEG ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $144.98. The company has a 50 day simple moving average of $133.77 and a two-hundred day simple moving average of $123.17. 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 posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. Equities analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

Analyst Ratings Changes

BNY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Truist Financial boosted their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Barclays boosted their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research 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 company an “equal weight” rating in a research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $138.08.

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.