15,113 Shares in Bank of New York Mellon Corporation $BNY Bought by IPG Investment Advisors LLC

IPG Investment Advisors LLC purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 15,113 shares of the bank's stock, valued at approximately $2,185,000.

Several other hedge funds have also bought and sold shares of BNY. Focus Partners Advisor Solutions LLC bought a new stake in Bank of New York Mellon in the second quarter worth $1,128,000. Northwestern Mutual Wealth Management Co. bought a new position in Bank of New York Mellon during the second quarter valued at $13,234,000. CIBC Asset Management Inc lifted its position in Bank of New York Mellon by 53.8% during the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank's stock valued at $21,129,000 after purchasing an additional 63,627 shares during the last quarter. Todd Asset Management LLC grew its stake in shares of Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank's stock worth $43,069,000 after buying an additional 101,142 shares in the last quarter. Finally, Bellars Harris Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $10,324,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BNY shares. Bank of America upped their target price on shares of 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. Argus lifted their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Truist Financial upped their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a "buy" rating for the company. Finally, Zacks Research cut Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Insider Buying and Selling

In related news, VP Jose Minaya sold 3,520 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares of the company's stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company's stock.

Bank of New York Mellon Price Performance

BNY stock opened at $163.08 on Thursday. The stock has a market cap of $110.65 billion, a PE ratio of 18.98, a P/E/G ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.84. The company has a 50-day moving average price of $158.60 and a 200 day moving average price of $140.59. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. Equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.

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