Rehmann Capital Advisory Group Buys New Shares in Bank of New York Mellon Corporation $BNY

Rehmann Capital Advisory Group purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,795 shares of the bank’s stock, valued at approximately $694,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EFG International AG bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon in the second quarter worth $29,000. Abound Financial LLC bought a new position in Bank of New York Mellon in the fourth quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new stake in Bank of New York Mellon during the second quarter worth $32,000. Finally, MCF Advisors LLC increased its holdings in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after buying an additional 101 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BNY. Argus lifted their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on 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 lifted their price objective on 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. Citigroup upped their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Trading Up 1.0%

Shares of BNY opened at $162.09 on Thursday. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month high of $165.68. The stock’s fifty day simple moving average is $156.65 and its 200-day simple moving average is $138.99. 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 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 (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. As a group, 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.