Rogco LP Invests $740,000 in Bank of New York Mellon Corporation $BNY

Rogco LP purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 5,118 shares of the bank’s stock, valued at approximately $740,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BNY. AdviceOne Advisory Services LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter worth $666,000. Syon Capital LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $1,963,000. denkapparat Operations GmbH purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $956,000. TD Waterhouse Canada Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth about $89,285,000. Finally, Premier Path Wealth Partners LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at about $4,321,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the subject of a number of analyst reports. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating for the company. Bank of America increased their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. Royal Bank Of Canada raised 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 research report on Thursday, July 16th. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Activity at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president directly owned 180,344 shares of the company’s stock, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 transaction of $4,937,268.00. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

NYSE BNY opened at $164.19 on Friday. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The stock has a 50-day moving average of $157.03 and a 200 day moving average of $139.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $111.40 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.22 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS 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.