Studio Investment Management LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) in the second quarter, Holdings Channel reports. The fund acquired 4,546 shares of the bank’s stock, valued at approximately $657,000.
A number of other institutional investors also recently modified their holdings of BNY. Luken Investment Analytics LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at $27,000. EFG International AG acquired a new position in Bank of New York Mellon during the second quarter worth $29,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at $29,000. Abound Financial LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $25,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $32,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Bank of New York Mellon Stock Up 0.1%
Shares of NYSE:BNY opened at $165.05 on Monday. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.84. The company has a market capitalization of $111.99 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The business has a fifty day moving average price of $157.46 and a two-hundred day moving average price of $139.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.
Insider Transactions at Bank of New York Mellon
In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Barclays boosted their price objective on 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. Truist Financial increased their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $157.13.
Get Our Latest Stock Report on Bank of New York Mellon
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.
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