Bank of New York Mellon Corporation $BNY Stock Holdings Cut by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 82.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 56,999 shares of the bank’s stock after selling 260,618 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Bank of New York Mellon were worth $6,617,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Bank of New York Mellon during the fourth quarter worth about $27,000. MCF Advisors LLC grew its holdings in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the period. Marquette Asset Management LLC raised its position in 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 acquiring an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new stake in Bank of New York Mellon in the fourth quarter worth about $31,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BNY shares. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Truist Financial boosted their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Barclays increased their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a 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 equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Trading Up 0.0%

NYSE:BNY opened at $143.64 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $148.13. The firm 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 stock has a fifty day simple moving average of $137.17 and a 200 day simple moving average of $124.97.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping 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 firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business posted $1.58 EPS. Bank of New York Mellon’s revenue was up 12.9% on a year-over-year basis. Sell-side 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given 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 dividend payout ratio (DPR) is 26.27%.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock worth $6,568,423 over the last three months. 0.17% of the stock is owned by 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.