Axxcess Wealth Management LLC Has $10.73 Million Position in Bank of New York Mellon Corporation $BNY

Axxcess Wealth Management LLC grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 282.6% during the fourth quarter, Holdings Channel reports. The firm owned 92,414 shares of the bank’s stock after acquiring an additional 68,262 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $10,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Bank of New York Mellon by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after acquiring an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Ameriprise Financial Inc. boosted its holdings in Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Bank of New York Mellon by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after buying an additional 66,010 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BNY. Evercore set a $136.00 price target on shares of Bank of New York Mellon in a research report on Friday, April 17th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Truist Financial lifted their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday. Finally, Royal Bank Of Canada lifted their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $137.67 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $139.15. The stock has a 50-day moving average price of $127.66 and a 200 day moving average price of $120.37. The stock has a market capitalization of $94.75 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.00 and a beta of 1.08.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business earned $1.58 EPS. Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend 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.