32,963 Shares in Bank of New York Mellon Corporation $BNY Bought by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,963 shares of the bank’s stock, valued at approximately $4,739,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNY. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $25,000. MCF Advisors LLC increased its position in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Heritage Wealth Advisors bought a new stake in Bank of New York Mellon during the fourth quarter worth about $31,000. Wilkerson Advisory Group LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BNY. Barclays lifted 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. 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 report on Wednesday, July 22nd. Citigroup raised their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Erste Group Bank began coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

BNY stock opened at $163.30 on Monday. The company’s 50-day moving average price is $151.97 and its two-hundred day moving average price is $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 Corporation has a 12 month low of $99.67 and a 12 month high of $163.77.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. On average, analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bank of New York Mellon 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 value of $4,937,268.00. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

About Bank of New York Mellon

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.