UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Bank of New York Mellon Corporation $BNY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,040,568 shares of the bank’s stock after selling 36,161 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.01% of Bank of New York Mellon worth $817,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Korea Investment CORP boosted its position in Bank of New York Mellon by 4.3% during the 4th quarter. Korea Investment CORP now owns 575,595 shares of the bank’s stock valued at $66,821,000 after acquiring an additional 23,665 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Bank of New York Mellon during the 4th quarter valued at $5,820,000. Sumitomo Life Insurance Co. boosted its position in Bank of New York Mellon by 95.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 29,734 shares of the bank’s stock valued at $3,452,000 after acquiring an additional 14,498 shares in the last quarter. Wealthspire Advisors LLC boosted its position in Bank of New York Mellon by 29.2% during the 4th quarter. Wealthspire Advisors LLC now owns 20,276 shares of the bank’s stock valued at $2,354,000 after acquiring an additional 4,585 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in Bank of New York Mellon during the 4th quarter valued at $274,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BNY. Citigroup began coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings raised Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Barclays increased their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Finally, Truist Financial increased their target price on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. One research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction dated 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 owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated 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 $6,857,487. The trade was a 37.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $143.74 on Friday. The stock has a 50-day moving average of $135.19 and a two-hundred day moving average of $123.80. Bank of New York Mellon Corporation has a one year low of $87.41 and a one year high of $145.02. 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 stock has a market cap of $98.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. As a group, research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a dividend of $0.53 per share. 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 dividend payout ratio (DPR) is presently 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.