Franklin Resources Inc. Sells 71,751 Shares of Bank of New York Mellon Corporation $BNY

Franklin Resources Inc. lowered its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,563,109 shares of the bank’s stock after selling 71,751 shares during the period. Franklin Resources Inc. owned about 0.22% of Bank of New York Mellon worth $181,461,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $27,000. MCF Advisors LLC boosted its position in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after buying an additional 101 shares during the period. Marquette Asset Management LLC boosted its position in Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after buying an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $46,000. Finally, Dunhill Financial LLC boosted its position in Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling 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 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 directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon 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 approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on BNY shares. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Citigroup started coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Royal Bank Of Canada increased their price target 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 report on Friday, April 17th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Finally, Evercore set a $136.00 price target on shares of Bank of New York Mellon in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Trading Up 0.9%

NYSE:BNY opened at $143.12 on Wednesday. The company has a 50-day moving average price of $133.77 and a 200-day moving average price of $123.17. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $144.98. 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 cap of $98.23 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company posted $1.58 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a $0.53 dividend. 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 (DPR) is currently 26.27%.

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.