Quantbot Technologies LP Invests $1.42 Million in Bank of New York Mellon Corporation $BNY

Quantbot Technologies LP purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNYFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,808 shares of the bank’s stock, valued at approximately $1,418,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bank of New York Mellon by 18,044.4% in 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 acquiring an additional 19,561,793 shares during the period. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Bank of New York Mellon by 639.5% in 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 worth $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Bank of New York Mellon during the second quarter worth $576,055,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.0%

Shares of BNY stock opened at $163.76 on Wednesday. The company has a market capitalization of $111.11 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a 12-month low of $102.55 and a 12-month high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $154.63 and a 200 day moving average price of $137.32.

Bank of New York Mellon (NYSE:BNYGet Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Erste Group Bank began coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating for the company. Barclays boosted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Argus upped their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada increased their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Finally, Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Check Out Our Latest Stock Report on Bank of New York Mellon

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BNY)

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