36,896 Shares in Bank of New York Mellon Corporation $BNY Purchased by Murphy Pohlad Asset Management LLC

Key Points

• Murphy Pohlad Asset Management acquired 36,896 shares of Bank of New York Mellon, valued at approximately $5.3 million, making BNY 1.8% of its portfolio. Institutional investors collectively own 85.31% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157.13; several firms recently raised their targets as high as $178.
• BNY exceeded quarterly expectations, reporting $2.46 in EPS versus the $2.16 estimate and $5.70 billion in revenue, up 13.3% year over year. The stock recently traded at $162.91, near its 52-week high of $165.84.

Murphy Pohlad Asset Management LLC acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 36,896 shares of the bank's stock, valued at approximately $5,336,000. Bank of New York Mellon accounts for 1.8% of Murphy Pohlad Asset Management LLC's portfolio, making the stock its 11th biggest position.

Several other institutional investors have also modified their holdings of the company. Luken Investment Analytics LLC bought a new stake in Bank of New York Mellon in the second quarter worth about $27,000. EFG International AG bought a new position in shares of Bank of New York Mellon in the second quarter valued at $29,000. Burnham & Co LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter worth $29,000. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $25,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Bank of New York Mellon during the second quarter valued at $32,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a "buy" rating for the company. Barclays raised their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Price Performance

NYSE BNY traded down $1.93 on Tuesday, reaching $162.91. The company's stock had a trading volume of 2,406,021 shares, compared to its average volume of 3,649,098. The firm has a market cap of $110.54 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. 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 Corporation has a 52 week low of $102.63 and a 52 week high of $165.84. The business has a 50-day moving average price of $158.26 and a 200 day moving average price of $140.28.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its earnings results 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 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%. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. Sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the business'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 transaction, the vice president directly owned 180,344 shares of the company's stock, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the 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. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Company 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.

Want to see what other hedge funds are holding BNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corporation (NYSE:BNY - Free Report).

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.