Auxier Asset Management LLC Has $22.59 Million Position in Bank of New York Mellon Corporation $BNY

Auxier Asset Management LLC reduced its position in Bank of New York Mellon Corporation (NYSE:BNY) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,578 shares of the bank’s stock after selling 18,965 shares during the quarter. Bank of New York Mellon makes up about 3.2% of Auxier Asset Management LLC’s investment portfolio, making the stock its 4th largest holding. Auxier Asset Management LLC’s holdings in Bank of New York Mellon were worth $22,589,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Abound Financial LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $27,000. MCF Advisors LLC boosted its position in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC boosted its position in shares of Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $31,000. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BNY shares. Citigroup started coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Evercore set a $136.00 price target on shares of Bank of New York Mellon in a research report on Friday, April 17th. Truist Financial upped their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Morgan Stanley upped their price target on shares of 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. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Price Performance

BNY stock opened at $145.84 on Thursday. Bank of New York Mellon Corporation has a one year low of $87.41 and a one year high of $146.74. The company’s fifty day moving average price is $136.48 and its 200-day moving average price is $124.62. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $100.10 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend 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%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

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.