UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New $1.21 Billion Investment in Bank of New York Mellon Corporation $BNY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,396,325 shares of the bank’s stock, valued at approximately $1,214,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.24% of Bank of New York Mellon as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BNY. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. Argus upped their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their target price 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. 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 report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Trading Up 0.2%

Shares of NYSE:BNY opened at $162.50 on Friday. The company has a market capitalization of $110.26 billion, a PE ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06. 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 Corporation has a 12-month low of $102.63 and a 12-month high of $165.68. The business’s fifty day simple moving average is $155.73 and its 200-day simple moving average is $138.06.

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 for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the business posted $1.93 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

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.