SGL Investment Advisors Inc. Invests $769,000 in Bank of New York Mellon Corporation $BNY

SGL Investment Advisors Inc. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,821 shares of the bank’s stock, valued at approximately $769,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BNY. Abound Financial LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $25,000. MCF Advisors LLC raised its holdings 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. Heritage Wealth Advisors purchased a new stake in Bank of New York Mellon during the fourth quarter worth $31,000. Wilkerson Advisory Group LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $32,000. 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 $157.61 on Friday. The stock has a market capitalization of $106.94 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.13 and a beta of 1.06. Bank of New York Mellon Corporation has a 12-month low of $100.44 and a 12-month high of $165.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s 50-day moving average is $153.55 and its two-hundred day moving average is $136.46.

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 analyst estimates of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. Equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BNY has been the topic of several recent research reports. Barclays boosted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. 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. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.