Jupiter Topco LLC Acquires Shares of 586,127 Bank of New York Mellon Corporation $BNY

Jupiter Topco LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, Holdings Channel reports. The firm acquired 586,127 shares of the bank’s stock, valued at approximately $84,751,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $25,000. MCF Advisors LLC grew its holdings in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $29,000. EFG International AG bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $29,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $31,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 transaction of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY opened at $163.31 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $154.98 and its 200 day moving average price is $137.62. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The firm has a market cap of $110.81 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating 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 return on equity of 16.00% and a net margin of 15.52%.The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. As a group, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on BNY shares. Argus increased their price target 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 upped their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Truist Financial increased their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.