RPg Family Wealth Advisory LLC Takes $12.16 Million Position in Bank of New York Mellon Corporation $BNY

RPg Family Wealth Advisory LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 84,116 shares of the bank’s stock, valued at approximately $12,164,000. Bank of New York Mellon accounts for about 1.9% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors have also modified their holdings of BNY. BlackRock Inc. purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Bank of America Corp DE purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $2,499,438,000. Norges Bank purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $1,214,193,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BNY stock opened at $162.50 on Monday. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a 50-day simple moving average of $155.73 and a 200-day simple moving average of $138.13. The stock has a market capitalization of $110.26 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company posted $1.93 EPS. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast 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 Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BNY shares. Bank of America lifted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. 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. Citigroup raised their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $157.13.

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.