Beverly Hills Private Wealth LLC Invests $1.85 Million in Bank of New York Mellon Corporation $BNY

Beverly Hills Private Wealth LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel reports. The firm purchased 12,815 shares of the bank’s stock, valued at approximately $1,853,000.

Other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares during the period. Norges Bank bought a new position in Bank of New York Mellon in the 4th quarter worth about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Bank of New York Mellon during the second quarter worth approximately $492,663,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $227,437,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.0%

Bank of New York Mellon stock opened at $163.30 on Monday. The stock has a 50-day moving average of $151.97 and a two-hundred day moving average of $135.28. The stock has a market cap of $110.80 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year 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 EPS 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 analysts’ expectations 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 firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.93 EPS. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Argus lifted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Bank of America increased 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. Two investment 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 stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, 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 value of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.