Parallax Volatility Advisers L.P. Buys Shares of 7,174 Bank of New York Mellon Corporation $BNY

Parallax Volatility Advisers L.P. purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,174 shares of the bank’s stock, valued at approximately $1,037,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the second quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $2,499,438,000. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth $1,398,624,000. Finally, Invesco Ltd. lifted its stake in shares of Bank of New York Mellon by 8.2% during the 4th quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after purchasing an additional 578,999 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup increased their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Barclays lifted their price target 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. Finally, Bank of America upped their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Down 0.2%

NYSE BNY opened at $163.31 on Thursday. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month high of $165.68. The company has a fifty day simple moving average of $154.98 and a two-hundred day simple moving average of $137.62. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market cap of $110.81 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced 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. 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 analyst estimates of $5.35 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Bank of New York Mellon 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.