Public Employees Retirement Association of Colorado Trims Stake in Bank of New York Mellon Corporation $BNY

Public Employees Retirement Association of Colorado trimmed its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,817 shares of the bank’s stock after selling 5,160 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bank of New York Mellon were worth $10,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Piedmont Capital Management LLC NC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth $683,000. MML Investors Services LLC increased its stake 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 purchasing an additional 18,589 shares in the last quarter. Mariner LLC increased its stake in shares of Bank of New York Mellon by 74.2% in the 4th quarter. Mariner LLC now owns 372,726 shares of the bank’s stock worth $43,277,000 after purchasing an additional 158,743 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in shares of 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 worth $481,000 after purchasing an additional 129 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Bank of New York Mellon by 599.2% in the 4th quarter. Focus Partners Wealth now owns 314,590 shares of the bank’s stock worth $36,506,000 after purchasing an additional 269,598 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction 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 $6,857,487. This represents a 37.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock worth $6,568,423 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BNY. Evercore set a $136.00 price objective on Bank of New York Mellon in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Truist Financial upped 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. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Trading Down 1.0%

Shares of Bank of New York Mellon stock opened at $142.48 on Tuesday. The company has a market capitalization of $97.80 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.05 and a beta of 1.07. 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 fifty day moving average of $135.59 and a 200 day moving average of $124.14. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $146.45.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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