Tranquilli Financial Advisor LLC Takes $1.01 Million Position in Bank of New York Mellon Corporation $BNY

Tranquilli Financial Advisor LLC purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,981 shares of the bank’s stock, valued at approximately $1,010,000.

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

Insider Activity at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Up 1.0%

Shares of Bank of New York Mellon stock opened at $162.09 on Thursday. The company has a 50-day simple moving average of $156.65 and a two-hundred day simple moving average of $138.99. The stock has a market capitalization of $109.98 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. 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 debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current 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 firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. On average, analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BNY has been the topic of several research reports. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Citigroup lifted their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Two investment 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 stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus 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.