Meiji Yasuda Asset Management Co Ltd. Takes $2.22 Million Position in Bank of New York Mellon Corporation $BNY

Meiji Yasuda Asset Management Co Ltd. 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 15,330 shares of the bank’s stock, valued at approximately $2,217,000.

Several other large investors also recently modified their holdings of the company. Burnham & Co LLC purchased a new position in Bank of New York Mellon in the second quarter worth about $29,000. Abound Financial LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $32,000. MCF Advisors LLC increased its position in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the last quarter. Finally, MidFirst Bank bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $38,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given 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 an average price target of $157.13.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Up 2.3%

NYSE BNY opened at $162.14 on Tuesday. Bank of New York Mellon Corporation has a 52 week low of $101.71 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 company has a market capitalization of $110.01 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. The stock’s 50-day moving average price is $154.24 and its 200-day moving average price is $137.02.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. On average, equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.