Bank of New York Mellon Corporation $BNY Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,189 shares of the bank’s stock after purchasing an additional 6,319 shares during the period. Bank of New York Mellon makes up 0.5% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 21st biggest holding. Illinois Municipal Retirement Fund’s holdings in Bank of New York Mellon were worth $43,091,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BNY. Todd Asset Management LLC grew its stake in Bank of New York Mellon by 37.5% during the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after acquiring an additional 101,142 shares in the last quarter. First National Bank of Omaha purchased a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $3,044,000. Cullen Investment Group LTD. boosted its holdings in shares of Bank of New York Mellon by 1,691.4% during the fourth quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after purchasing an additional 36,568 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Bank of New York Mellon by 8.6% during the third quarter. Cibc World Market Inc. now owns 130,795 shares of the bank’s stock worth $14,251,000 after purchasing an additional 10,377 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in Bank of New York Mellon during the third quarter valued at approximately $10,641,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $139.89 on Thursday. The firm has a market cap of $96.02 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. The company’s fifty day moving average is $134.27 and its 200-day moving average is $123.41. 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 12 month low of $87.41 and a 12 month high of $144.98.

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 (EPS) for the quarter, beating 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 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 previous year, the business earned $1.58 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend 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 is currently 26.27%.

Insider Buying and Selling

In other news, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 in the last quarter. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Morgan Stanley increased 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 report on Friday, April 17th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Finally, Barclays upped their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.08.

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.