57,020 Shares in Bank of New York Mellon Corporation $BNY Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,020 shares of the bank’s stock, valued at approximately $8,246,000.

A number of other hedge funds also recently added to or reduced their stakes in BNY. California State Teachers Retirement System purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $22,603,252,000. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Bank of America Corp DE purchased a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $2,499,438,000. Finally, Norges Bank purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $1,398,624,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other 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 transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the topic of a number of research analyst reports. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Wells Fargo & Company raised their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Truist Financial lifted their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Bank of America lifted 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 note on Monday, July 20th. Finally, Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY opened at $162.60 on Friday. The company has a 50-day simple moving average of $158.92 and a 200-day simple moving average of $140.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $110.32 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 12 month low of $103.11 and a 12 month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last announced 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 net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current 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.