Trivium Point Advisory LLC Invests $2.27 Million in Bank of New York Mellon Corporation $BNY

Trivium Point Advisory LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,673 shares of the bank’s stock, valued at approximately $2,266,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $32,000. MCF Advisors LLC raised its stake in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $31,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.0%

Shares of BNY stock opened at $163.30 on Monday. Bank of New York Mellon Corporation has a 12-month low of $99.67 and a 12-month high of $163.77. 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 fifty day moving average of $151.97 and a 200-day moving average of $135.28. The company has a market capitalization of $110.80 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.16 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 (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business earned $1.93 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. 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 Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BNY. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods lifted 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. Finally, Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.