Nykredit A S Buys New Position in Bank of New York Mellon Corporation $BNY

Nykredit A S bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 227,919 shares of the bank’s stock, valued at approximately $32,959,000.

Other institutional investors have also recently bought and sold shares of the company. Linscomb Wealth Inc. grew its stake in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after acquiring an additional 80 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Bank of New York Mellon by 3.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after purchasing an additional 88 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after purchasing an additional 89 shares in the last quarter. Maia Wealth LLC boosted its holdings in Bank of New York Mellon by 3.0% during the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after purchasing an additional 90 shares during the last quarter. Finally, Nemes Rush Group LLC boosted its holdings in Bank of New York Mellon by 12.8% during the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Thursday, August 27th. The stock was 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 owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BNY opened at $164.19 on Friday. The stock has a market capitalization of $111.40 billion, a PE ratio of 19.11, a P/E/G ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.68. The firm has a fifty day simple moving average of $157.03 and a 200 day simple moving average of $139.31. 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 posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period 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, research analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BNY has been the topic of several recent research reports. Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Truist Financial increased their price objective on shares of 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. Erste Group Bank initiated coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating for the company. Bank of America lifted their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.13.

About Bank of New York Mellon

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.