Bank of New York Mellon Corporation $BNY Holdings Raised by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 2,478.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 719,967 shares of the bank’s stock after acquiring an additional 692,049 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bank of New York Mellon were worth $83,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BNY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $27,000. MCF Advisors LLC raised its stake in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. Marquette Asset Management LLC raised its stake in shares of Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Heritage Wealth Advisors bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $31,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BNY shares. Barclays lifted their price objective on shares of 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. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley lifted their price objective 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 note on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. Finally, Truist Financial lifted their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.08.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was 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 directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,091 shares of company stock worth $6,568,423. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BNY opened at $143.74 on Monday. The business’s 50-day moving average price is $135.19 and its 200 day moving average price is $123.91. The firm has a market cap of $98.66 billion, a P/E ratio of 17.81, a PEG ratio of 1.05 and a beta of 1.07. 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 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 (NYSE:BNY) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. As a group, sell-side analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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