Livforsakringsbolaget Skandia Omsesidigt Invests $547,000 in Bank of New York Mellon Corporation $BNY

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,784 shares of the bank’s stock, valued at approximately $547,000.

Several other large investors have also recently added to or reduced their stakes in the company. Rakuten Investment Management Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter valued at about $16,148,000. RB Capital Management LLC bought a new stake in Bank of New York Mellon in the 2nd quarter valued at about $2,181,000. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $55,000. Maxele Advisors LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth approximately $350,000. Finally, Empowered Funds LLC bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $19,796,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY stock opened at $162.50 on Friday. The company has a 50 day simple moving average of $155.73 and a 200 day simple moving average of $138.06. The stock has a market cap of $110.26 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68. 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 (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for 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%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. Research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BNY shares. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. 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. Keefe, Bruyette & Woods upped 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 research report on Thursday, July 16th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

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.