Danica Pension Livsforsikringsaktieselskab Invests $12.74 Million in Bank of New York Mellon Corporation $BNY

Danica Pension Livsforsikringsaktieselskab acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, Holdings Channel reports. The firm acquired 88,105 shares of the bank’s stock, valued at approximately $12,741,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Danske Bank A S acquired a new stake in Bank of New York Mellon in the second quarter worth $105,539,000. Diversify Advisory Services LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $2,663,000. Gables Capital Management Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $159,000. Wealthfront Advisers LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $14,559,000. Finally, Foster & Motley Inc. bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $339,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on Wednesday, July 29th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $163.80 on Wednesday. The stock has a market cap of $111.14 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.16 and a beta of 1.06. 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 fifty-two week low of $99.67 and a fifty-two week high of $165.68. The firm’s 50-day simple moving average is $152.84 and its 200 day simple moving average is $135.92.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30. The firm 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%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on BNY shares. 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. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Argus boosted 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. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Citigroup increased their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

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.