Bank of New York Mellon Corporation $BNY Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV cut its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 77.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,260 shares of the bank’s stock after selling 7,946 shares during the quarter. Resources Management Corp CT ADV’s holdings in Bank of New York Mellon were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MML Investors Services LLC grew its stake in shares of Bank of New York Mellon by 7.2% during the 4th quarter. MML Investors Services LLC now owns 276,189 shares of the bank’s stock worth $32,063,000 after purchasing an additional 18,589 shares during the period. Mariner LLC increased its holdings in Bank of New York Mellon by 74.2% during the 4th quarter. Mariner LLC now owns 372,726 shares of the bank’s stock valued at $43,277,000 after acquiring an additional 158,743 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in Bank of New York Mellon by 3.3% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,986 shares of the bank’s stock valued at $481,000 after acquiring an additional 129 shares in the last quarter. Focus Partners Wealth increased its holdings in Bank of New York Mellon by 599.2% during the 4th quarter. Focus Partners Wealth now owns 314,590 shares of the bank’s stock valued at $36,506,000 after acquiring an additional 269,598 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Bank of New York Mellon by 2,478.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 719,967 shares of the bank’s stock valued at $83,581,000 after acquiring an additional 692,049 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the firm’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 sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on BNY shares. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Citigroup started coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods raised 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 report on Friday, April 17th. Finally, Truist Financial raised 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 report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $142.48 on Tuesday. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $146.45. The stock has a market capitalization of $97.80 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.05 and a beta of 1.07. The firm’s 50-day moving average is $135.59 and its two-hundred day moving average is $124.14. 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 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. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders 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 dividend payout ratio (DPR) is currently 26.27%.

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.