Daiwa Securities Group Inc. Increases Stock Holdings in Bank of New York Mellon Corporation $BNY

Daiwa Securities Group Inc. raised its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 126,967 shares of the bank’s stock after acquiring an additional 5,662 shares during the period. Daiwa Securities Group Inc.’s holdings in Bank of New York Mellon were worth $14,739,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon in the fourth quarter valued at approximately $27,000. Marquette Asset Management LLC increased its stake 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 valued at $30,000 after purchasing 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 fourth quarter valued at approximately $46,000. Dunhill Financial LLC increased its stake in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares during the last quarter. Finally, Community Bank N.A. boosted its holdings in shares of Bank of New York Mellon by 250.4% in the third quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after acquiring an additional 313 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $142.65 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a fifty day moving average price of $132.70 and a 200 day moving average price of $122.57. 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 market cap of $97.91 billion, a PE ratio of 17.68, a P/E/G ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend 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 (DPR) is currently 26.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Morgan Stanley increased their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. Finally, Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.