2,223,062 Shares in Bank of New York Mellon Corporation $BNY Bought by National Pension Service

National Pension Service purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, HoldingsChannel.com reports. The fund purchased 2,223,062 shares of the bank’s stock, valued at approximately $321,477,000.

A number of other large investors have also recently bought and sold shares of BNY. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC lifted its stake in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $27,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $29,000. Finally, EFG International AG acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $29,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, August 27th. The stock was 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 of the company’s stock, 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. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Trading Up 0.1%

Shares of NYSE BNY opened at $163.08 on Thursday. The stock has a market cap of $110.65 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The firm has a 50 day moving average price of $158.60 and a two-hundred day moving average price of $140.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Argus upped their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Citigroup increased their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Truist Financial raised their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.