Meiji Yasuda Asset Management Co Ltd. Purchases New Position in Bank of New York Mellon Corporation $BNY

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,330 shares of the bank’s stock, valued at approximately $2,217,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth $220,000. Sivia Capital Partners LLC raised its holdings in Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares in the last quarter. Jump Financial LLC purchased a new position in Bank of New York Mellon during the second quarter valued at $2,482,000. Treasurer of the State of North Carolina lifted its position in Bank of New York Mellon by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after buying an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. lifted its position in Bank of New York Mellon by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after buying an additional 1,189 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 2.3%

Bank of New York Mellon stock opened at $162.14 on Tuesday. The firm has a market cap of $110.01 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.12 and a beta of 1.06. The stock has a fifty day simple moving average of $154.24 and a two-hundred day simple moving average of $137.02. Bank of New York Mellon Corporation has a 12 month low of $101.71 and a 12 month high of $165.68. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly 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 the consensus estimate of $5.35 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BNY. 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. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.13.

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.