8,740 Shares in Bank of New York Mellon Corporation $BNY Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,740 shares of the bank's stock, valued at approximately $1,264,000.

Several other large investors also recently modified their holdings of BNY. BlackRock Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $8,321,111,000. Bank of America Corp DE purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $2,499,438,000. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $1,398,624,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,214,193,000. Finally, Wellington Management Group LLP purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $1,175,576,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.3%

BNY opened at $153.07 on Friday. The stock has a market cap of $103.86 billion, a PE ratio of 17.82, a P/E/G ratio of 1.15 and a beta of 1.05. The company has a quick ratio of 0.72, a current 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 $103.11 and a 52 week high of $165.84. The business's fifty day simple moving average is $159.55 and its 200 day simple moving average is $142.24.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.93 EPS. As a group, research analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Zacks Research lowered Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a "buy" rating on the stock. Bank of America increased their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Truist Financial raised 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 research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $157.13.

Insider Activity

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jose Minaya sold 3,520 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was 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 directly owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company's stock.

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.

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.