Bank of New York Mellon Corporation $BNY Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. boosted its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 56.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,290,910 shares of the bank’s stock after purchasing an additional 467,279 shares during the quarter. Panagora Asset Management Inc.’s holdings in Bank of New York Mellon were worth $149,862,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Piedmont Capital Management LLC NC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at $683,000. MML Investors Services LLC boosted its position in shares of Bank of New York Mellon by 7.2% in the 4th quarter. MML Investors Services LLC now owns 276,189 shares of the bank’s stock worth $32,063,000 after buying an additional 18,589 shares in the last quarter. Mariner LLC grew its stake in Bank of New York Mellon by 74.2% in the 4th quarter. Mariner LLC now owns 372,726 shares of the bank’s stock valued at $43,277,000 after acquiring an additional 158,743 shares during the last quarter. Nicolet Advisory Services LLC grew its stake in Bank of New York Mellon by 3.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,986 shares of the bank’s stock valued at $481,000 after acquiring an additional 129 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in Bank of New York Mellon by 599.2% during the 4th quarter. Focus Partners Wealth now owns 314,590 shares of the bank’s stock valued at $36,506,000 after acquiring an additional 269,598 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $143.74 on Monday. 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 firm has a market cap of $98.66 billion, a PE ratio of 17.81, a P/E/G ratio of 1.05 and a beta of 1.07. The firm has a 50 day simple moving average of $135.19 and a 200-day simple moving average of $123.91. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $145.02.

Bank of New York Mellon (NYSE:BNY) last announced 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. On average, equities analysts expect that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed 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 of this dividend 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 currently 26.27%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were 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 owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 in the last three months. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BNY shares. Barclays lifted their target price on shares of 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. Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Morgan Stanley raised their price target on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon 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.