Los Angeles Capital Management LLC Sells 38,081 Shares of Bank of New York Mellon Corporation $BNY

Los Angeles Capital Management LLC lessened its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 28.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,550 shares of the bank’s stock after selling 38,081 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $10,312,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Todd Asset Management LLC boosted its holdings in shares of Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after purchasing an additional 101,142 shares in the last quarter. First National Bank of Omaha acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $3,044,000. Cullen Investment Group LTD. boosted its holdings in shares of Bank of New York Mellon by 1,691.4% in the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock valued at $4,610,000 after purchasing an additional 36,568 shares in the last quarter. Cibc World Market Inc. boosted its holdings in shares of Bank of New York Mellon by 8.6% in the 3rd quarter. Cibc World Market Inc. now owns 130,795 shares of the bank’s stock valued at $14,251,000 after purchasing an additional 10,377 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $10,641,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Down 0.4%

NYSE BNY opened at $141.85 on Tuesday. The company has a market cap of $97.36 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. 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 twelve month low of $87.41 and a twelve month high of $144.98. The business’s fifty day moving average is $133.20 and its 200 day moving average is $122.92.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Bank of New York Mellon’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. As a group, sell-side analysts expect 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. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a 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 currently 26.27%.

Analyst Ratings Changes

BNY has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Barclays raised their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. One investment 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. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target 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.