Northwestern Mutual Wealth Management Co. Buys 8,171 Shares of Bank of New York Mellon Corporation $BNY

Northwestern Mutual Wealth Management Co. raised its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,580 shares of the bank’s stock after buying an additional 8,171 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Bank of New York Mellon were worth $13,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $27,000. Marquette Asset Management LLC boosted its stake in shares of 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 purchasing an additional 166 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $46,000. Finally, Dunhill Financial LLC boosted its position in Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after acquiring an additional 242 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on BNY shares. Keefe, Bruyette & Woods boosted their price target on 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. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased 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. Royal Bank Of Canada lifted their price target 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. Finally, Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Transactions at Bank of New York Mellon

In other 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 transaction, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 sale, the vice president directly owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 2.4%

Shares of Bank of New York Mellon stock opened at $142.71 on Tuesday. The firm has a market cap of $97.95 billion, a PE ratio of 17.68, a P/E/G ratio of 1.02 and a beta of 1.08. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $143.25. 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 $130.63 and a 200-day moving average price of $121.77.

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 analysts’ consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities research analysts anticipate 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 $0.53 dividend. This represents a $2.12 dividend on an annualized basis 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%.

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.