Bank of New York Mellon Corporation $BNY Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. lowered its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,649 shares of the bank’s stock after selling 4,505 shares during the quarter. Bank of New York Mellon comprises about 4.1% of Westchester Capital Management Inc.’s holdings, making the stock its 9th largest position. Westchester Capital Management Inc.’s holdings in Bank of New York Mellon were worth $20,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. increased its stake in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Advisors Asset Management Inc. now owns 108,708 shares of the bank’s stock valued at $12,620,000 after acquiring an additional 516 shares during the last quarter. Rossby Financial LCC increased its stake in shares of Bank of New York Mellon by 105.7% during the 4th quarter. Rossby Financial LCC now owns 432 shares of the bank’s stock valued at $50,000 after acquiring an additional 222 shares during the last quarter. Bank of Jackson Hole Trust increased its stake in shares of Bank of New York Mellon by 43.9% during the 4th quarter. Bank of Jackson Hole Trust now owns 2,083 shares of the bank’s stock valued at $242,000 after acquiring an additional 635 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Bank of New York Mellon by 38.9% during the 4th quarter. Brooklyn Investment Group now owns 18,710 shares of the bank’s stock valued at $2,198,000 after acquiring an additional 5,243 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Bank of New York Mellon by 3.2% during the 4th quarter. Orion Porfolio Solutions LLC now owns 27,864 shares of the bank’s stock worth $3,235,000 after purchasing an additional 860 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Barclays boosted their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock worth $6,568,423 in the last 90 days. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 1.2%

Shares of NYSE:BNY opened at $143.74 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $145.02. The stock has a market capitalization of $98.66 billion, a P/E ratio of 17.81, a PEG ratio of 1.04 and a beta of 1.07. The stock has a 50-day simple moving average of $135.19 and a 200-day simple moving average of $123.80.

Bank of New York Mellon (NYSE:BNY) last issued 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 business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. Equities analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share 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. Shareholders of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is currently 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.