Trillium Asset Management LLC Takes $13.64 Million Position in Bank of New York Mellon Corporation $BNY

Trillium Asset Management LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 94,301 shares of the bank’s stock, valued at approximately $13,637,000.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the second quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $576,055,000. Institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the subject of several recent research reports. Bank of America boosted their target price on shares of 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. Erste Group Bank assumed coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating for the company. Barclays lifted their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Two equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $157.61 on Friday. The stock has a market capitalization of $106.94 billion, a PE ratio of 18.35, a P/E/G ratio of 1.13 and a beta of 1.06. The business has a 50 day simple moving average of $153.55 and a two-hundred day simple moving average of $136.46. 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 Corporation has a 1-year low of $100.44 and a 1-year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data 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. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal 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.