Bank of New York Mellon Corporation $BNY Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,918 shares of the bank’s stock after buying an additional 5,047 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of New York Mellon were worth $6,063,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Bank of America Corp DE acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $1,214,193,000. Wellington Management Group LLP bought a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $1,175,576,000. Finally, Amundi acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $985,533,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $152.76 on Friday. The firm has a market cap of $102.79 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average price is $149.48 and its two-hundred day moving average price is $140.59. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BNY. Barclays increased their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday, October 8th. They set a “hold” rating and a $160.00 price target for the company. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Argus upped their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, New Street Research set a $182.00 price objective on Bank of New York Mellon in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six 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 target price of $165.04.

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 firm’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares of the company’s stock, valued at $25,616,064.24. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robin A. Vince sold 40,620 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the completion of the transaction, the chief executive officer directly owned 585,174 shares in the company, valued at approximately $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 60,560 shares of company stock valued at $9,007,119. 0.17% of the stock is owned by insiders.

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.