OneDigital Investment Advisors LLC Takes $2.52 Million Position in Bank of New York Mellon Corporation $BNY

OneDigital Investment Advisors LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,441 shares of the bank’s stock, valued at approximately $2,522,000.

Other institutional investors have also recently made changes to their positions in the company. Abound Financial LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $25,000. MCF Advisors LLC increased 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 acquiring an additional 101 shares during the last quarter. Heritage Wealth Advisors acquired a new stake in Bank of New York Mellon during the fourth quarter worth $31,000. Wilkerson Advisory Group LLC purchased 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 stake in Bank of New York Mellon in the second quarter valued at $32,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays upped their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Argus increased their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Buying and Selling

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.0%

BNY opened at $163.30 on Monday. Bank of New York Mellon Corporation has a 52 week low of $99.67 and a 52 week high of $163.77. The business has a fifty day simple moving average of $151.97 and a 200-day simple moving average of $135.28. The firm has a market cap of $110.80 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last issued 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 analysts’ expectations 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 revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. On average, equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.