70,300 Shares in Bank of New York Mellon Corporation $BNY Bought by Railway Pension Investments Ltd

Railway Pension Investments Ltd acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,300 shares of the bank’s stock, valued at approximately $10,166,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JNBA Financial Advisors bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $471,000. Strategic Advisors LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at about $626,000. Kintegral Advisory LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $14,187,000. CTC Alternative Strategies Ltd. bought a new position in shares of Bank of New York Mellon during the second quarter valued at $622,000. Finally, BTG Pactual Asset Management US LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $2,043,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BNY opened at $161.73 on Tuesday. The stock has a market cap of $109.73 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.15 and a beta of 1.06. The firm has a fifty day moving average price of $156.03 and a 200 day moving average price of $138.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on BNY shares. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. 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. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus 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.