27,826 Shares in Bank of New York Mellon Corporation $BNY Bought by SCS Capital Management LLC

SCS Capital Management LLC acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,826 shares of the bank’s stock, valued at approximately $4,024,000.

A number of other large investors have also made changes to their positions in BNY. Abound Financial LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $25,000. MCF Advisors LLC boosted its stake in shares of 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. Heritage Wealth Advisors acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $31,000. Wilkerson Advisory Group LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $31,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Erste Group Bank began coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target on 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. Argus boosted their price objective 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. Finally, Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $163.30 on Monday. 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 stock has a fifty day moving average of $151.97 and a two-hundred day moving average of $135.28. The company has a market capitalization of $110.80 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $99.67 and a fifty-two week high of $163.77.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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.