Bank of New York Mellon Corporation $BNY Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC trimmed its position in Bank of New York Mellon Corporation (NYSE:BNY) by 31.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,087 shares of the bank’s stock after selling 47,054 shares during the period. Trillium Asset Management LLC’s holdings in Bank of New York Mellon were worth $12,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Wealthspire Advisors LLC grew its stake in Bank of New York Mellon by 29.2% in the fourth quarter. Wealthspire Advisors LLC now owns 20,276 shares of the bank’s stock worth $2,354,000 after purchasing an additional 4,585 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management acquired a new position in Bank of New York Mellon in the fourth quarter worth about $274,000. Advisors Asset Management Inc. grew its stake in Bank of New York Mellon by 0.5% in the fourth quarter. Advisors Asset Management Inc. now owns 108,708 shares of the bank’s stock worth $12,620,000 after purchasing an additional 516 shares in the last quarter. Rossby Financial LCC grew its stake in Bank of New York Mellon by 105.7% in the fourth quarter. Rossby Financial LCC now owns 432 shares of the bank’s stock worth $50,000 after purchasing an additional 222 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its stake in Bank of New York Mellon by 43.9% in the fourth quarter. Bank of Jackson Hole Trust now owns 2,083 shares of the bank’s stock worth $242,000 after purchasing an additional 635 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $143.74 on Friday. 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 business has a 50 day moving average of $135.19 and a two-hundred day moving average of $123.80. Bank of New York Mellon Corporation has a 52 week low of $87.41 and a 52 week high of $145.02. The company has a market cap of $98.66 billion, a P/E ratio of 17.81, a PEG ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. Bank of New York Mellon’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS 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 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 payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BNY shares. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley lifted their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Barclays lifted their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Evercore set a $136.00 target price on Bank of New York Mellon in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insiders Place Their Bets

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 completion of the transaction, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

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.