National Pension Service Buys 222,868 Shares of Bank of New York Mellon Corporation $BNY

National Pension Service grew its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 10.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,276,146 shares of the bank’s stock after purchasing an additional 222,868 shares during the quarter. National Pension Service’s holdings in Bank of New York Mellon were worth $264,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Bank of New York Mellon by 0.9% during the fourth 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 last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 valued at $2,283,514,000 after buying an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of 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 valued at $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Legal & General Group Plc now owns 5,755,058 shares of the bank’s stock valued at $668,105,000 after buying an additional 27,843 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.6%

Shares of NYSE BNY opened at $140.60 on Friday. The firm’s 50-day moving average price is $129.58 and its 200-day moving average price is $121.35. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $96.51 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.02 and a beta of 1.08. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $141.65.

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, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. On average, equities research 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 company 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. 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 payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a report on Friday, April 17th. Barclays raised 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 report on Friday, April 17th. 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. JPMorgan Chase & Co. raised their target price on shares of 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. One research 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Activity

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon 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 transaction, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last ninety days. 0.17% of the stock is owned by corporate 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.