91,513 Shares in Bank of New York Mellon Corporation $BNY Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 91,513 shares of the bank’s stock, valued at approximately $13,234,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BNY. BlackRock Inc. purchased a new position in shares of Bank of New York Mellon during the second quarter worth $8,321,111,000. Bank of America Corp DE acquired a new stake in Bank of New York Mellon during the 2nd quarter worth about $2,499,438,000. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $1,398,624,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $1,214,193,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Bank of New York Mellon in the second quarter worth about $1,175,576,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.0%

Bank of New York Mellon stock opened at $162.09 on Thursday. 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 stock has a market capitalization of $109.98 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The business has a 50 day simple moving average of $156.65 and a 200-day simple moving average of $138.99. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.68.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.93 EPS. 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.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BNY. Erste Group Bank began coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods upped their price objective on 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. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Truist Financial lifted their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.