Bank of New York Mellon Corporation $BNY Stock Holdings Reduced by Westchester Capital Management Inc.

Westchester Capital Management Inc. cut its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,649 shares of the bank’s stock after selling 4,505 shares during the period. Bank of New York Mellon accounts for about 4.1% of Westchester Capital Management Inc.’s holdings, making the stock its 9th biggest position. Westchester Capital Management Inc.’s holdings in Bank of New York Mellon were worth $20,043,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BNY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $27,000. MCF Advisors LLC grew its position in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after buying an additional 101 shares during the last quarter. Marquette Asset Management LLC grew its position in 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. Kohmann Bosshard Financial Services LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at $46,000. Finally, Dunhill Financial LLC grew its position in Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In related news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the business’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 completion of the transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 1.2%

NYSE:BNY opened at $143.74 on Friday. The company has a market capitalization of $98.66 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $145.02. The stock has a fifty day simple moving average of $135.19 and a 200-day simple moving average of $123.80.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. On average, equities research analysts expect 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. Stockholders of record on Monday, April 27th were paid a dividend of $0.53 per share. 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 payout ratio is 26.27%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNY. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” 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 stock an “overweight” rating in a research report on Friday, April 17th. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.