Hsbc Holdings PLC Lowers Holdings in Bank of New York Mellon Corporation $BNY

Hsbc Holdings PLC reduced its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 10.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,363,580 shares of the bank’s stock after selling 280,944 shares during the quarter. Hsbc Holdings PLC’s holdings in Bank of New York Mellon were worth $274,705,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Bank of New York Mellon by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after buying an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $1,398,624,000. Finally, Invesco Ltd. raised its position in Bank of New York Mellon by 8.2% during the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock valued at $891,621,000 after acquiring an additional 578,999 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 over the last 90 days. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $143.64 on Friday. The stock has a market capitalization of $98.59 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.05 and a beta of 1.07. The stock has a 50-day moving average of $137.17 and a 200 day moving average of $124.97. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $148.13.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion for 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%.Bank of New York Mellon’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given 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 26.27%.

Analyst Ratings Changes

BNY has been the topic of several recent research reports. Morgan Stanley upped their price objective 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. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Royal Bank Of Canada boosted their target price 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 note on Friday, April 17th. JPMorgan Chase & Co. increased their price target 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. Finally, Evercore set a $136.00 price target on shares of Bank of New York Mellon in a report on Friday, April 17th. One 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 company. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Company 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.