Graham Capital Management L.P. Has $4.81 Million Stake in Bank of New York Mellon Corporation $BNY

Graham Capital Management L.P. raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 91.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,456 shares of the bank’s stock after acquiring an additional 19,807 shares during the period. Graham Capital Management L.P.’s holdings in Bank of New York Mellon were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNY. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $27,000. MCF Advisors LLC boosted its position 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 worth $27,000 after buying an additional 101 shares during the period. Marquette Asset Management LLC boosted its position 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 worth $30,000 after buying an additional 166 shares during the period. Finally, Heritage Wealth Advisors acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $31,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BNY opened at $144.32 on Wednesday. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $146.45. The firm has a market capitalization of $99.06 billion, a PE ratio of 17.88, a PEG ratio of 1.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50-day simple moving average is $136.04 and its 200 day simple moving average is $124.38.

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 the consensus estimate of $1.94 by $0.31. The business 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. As a group, sell-side 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings raised Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Citigroup assumed coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Barclays upped their price objective on 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. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Morgan Stanley upped their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report 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 issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction that occurred 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 owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock worth $6,568,423 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

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.