Nykredit A S Takes Position in Bank of New York Mellon Corporation $BNY

Nykredit A S bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel.com reports. The fund bought 206,162 shares of the bank’s stock, valued at approximately $29,813,000.

Other hedge funds have also recently made changes to their positions in the company. Linscomb Wealth Inc. boosted its position in Bank of New York Mellon by 2.5% in the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after purchasing an additional 80 shares during the last quarter. Cornerstone Financial Management LLC grew its position in shares of Bank of New York Mellon by 11.4% during the second quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock worth $113,000 after purchasing an additional 80 shares in the last quarter. Essex Financial Services Inc. grew its stake in Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after acquiring an additional 89 shares in the last quarter. Nemes Rush Group LLC increased its holdings in Bank of New York Mellon by 12.8% in the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock valued at $94,000 after acquiring an additional 92 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its stake in Bank of New York Mellon by 2.9% during the fourth quarter. CFS Investment Advisory Services LLC now owns 3,292 shares of the bank’s stock valued at $382,000 after buying an additional 94 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BNY has been the subject of a number of analyst reports. Bank of America raised their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value 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 approximately $29,331,148.16. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $153.45 on Friday. Bank of New York Mellon Corporation has a one year low of $103.11 and a one year high of $165.84. The company has a market cap of $104.12 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.15 and a beta of 1.05. 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 business’s 50 day moving average price is $159.58 and its 200 day moving average price is $142.32.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. The company 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%. Bank of New York Mellon’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.