14,129 Shares in Bank of New York Mellon Corporation $BNY Acquired by BTG Pactual Asset Management US LLC

Key Points

• BTG Pactual Asset Management US LLC acquired 14,129 Bank of New York Mellon shares in the second quarter, valued at approximately $2.04 million. Other institutional investors also initiated positions, with institutions and hedge funds collectively owning 85.31% of the stock.
• BNY reported strong quarterly results, posting $2.46 in adjusted EPS versus the $2.16 consensus estimate and $5.70 billion in revenue, up 13.3% year over year.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $157.13, despite the stock opening at $162.50 and trading near its 12-month high.

BTG Pactual Asset Management US LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,129 shares of the bank's stock, valued at approximately $2,043,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNY. Rothschild Capital Partners LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $986,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $12,164,000. Ancora Advisors LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $198,000. Susquehanna Fundamental Investments LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $1,867,000. Finally, Sigma Planning Corp bought a new position in Bank of New York Mellon in the 2nd quarter worth $852,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $162.50 on Monday. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month 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 firm has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06. The stock's 50-day moving average price is $155.73 and its 200 day moving average price is $138.13.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company earned $1.93 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company'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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BNY shares. Argus upped their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Truist Financial lifted their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Barclays increased their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada boosted their target price on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source