UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys New Position in Bank of New York Mellon Corporation $BNY

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

Several other institutional investors have also added to or reduced their stakes in BNY. BlackRock Inc. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bank of New York Mellon by 18,044.4% during 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 in the last quarter. Bank of America Corp DE purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $2,499,438,000. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter worth approximately $1,398,624,000. Finally, Wellington Management Group LLP acquired a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $1,175,576,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BNY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Bank of America upped their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Barclays raised their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $162.50 on Friday. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.68. The company’s 50 day moving average is $155.73 and its 200 day moving average is $138.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market cap of $110.26 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted $1.93 EPS. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

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.