Simplicity Wealth LLC Takes $1.05 Million Position in Bank of New York Mellon Corporation $BNY

Simplicity Wealth LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,263 shares of the bank’s stock, valued at approximately $1,050,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $220,000. Sivia Capital Partners LLC lifted its holdings in shares of 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 buying an additional 909 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter worth about $2,482,000. Treasurer of the State of North Carolina boosted its position in shares of Bank of New York Mellon by 1.7% in 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 acquiring an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. boosted its position in shares of Bank of New York Mellon by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,189 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.0%

Shares of BNY stock opened at $163.30 on Monday. The stock has a market capitalization of $110.80 billion, a PE ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $99.67 and a 1-year high of $163.77. The business has a 50-day moving average of $151.97 and a 200 day moving average of $135.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BNY. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday. Argus boosted their target price on 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. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.