Stenger Family Office LLC Has $1.39 Million Holdings in Bank of New York Mellon Corporation $BNY

Stenger Family Office LLC grew its position in Bank of New York Mellon Corporation (NYSE:BNY) by 85.5% in the fourth quarter, Holdings Channel reports. The fund owned 11,928 shares of the bank’s stock after acquiring an additional 5,498 shares during the quarter. Stenger Family Office LLC’s holdings in Bank of New York Mellon were worth $1,385,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Linscomb Wealth Inc. grew its position in Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares during the last quarter. Ransom Advisory Ltd increased its holdings in Bank of New York Mellon by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock worth $787,000 after purchasing an additional 85 shares in the last quarter. Mather Group LLC. raised its position in Bank of New York Mellon by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Bank of New York Mellon by 3.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock valued at $326,000 after purchasing an additional 88 shares during the last quarter. Finally, Essex Financial Services Inc. boosted its stake in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction on Friday, April 17th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last quarter. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BNY opened at $143.64 on Friday. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $148.13. 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 company has a market capitalization of $98.59 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. The business has a 50-day moving average of $137.17 and a 200-day moving average of $124.97.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating 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 business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BNY. Evercore set a $136.00 price target on Bank of New York Mellon in a report on Friday, April 17th. Keefe, Bruyette & Woods raised their price objective 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. Citigroup began coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Morgan Stanley boosted their target price on shares of 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. Finally, Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. One research 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 an average target price of $138.08.

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.