92,524 Shares in Bank of New York Mellon Corporation $BNY Purchased by Nissay Asset Management Corp Japan

Key Points

• Nissay Asset Management acquired 92,524 shares of Bank of New York Mellon worth approximately $13.38 million, while institutional investors collectively own 85.31% of the company.
• Analyst sentiment is positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $157.13; Argus raised its target to $180.
• BNY exceeded quarterly expectations, reporting $2.46 in earnings per share versus a $2.16 estimate and $5.70 billion in revenue, up 13.3% year over year.

Nissay Asset Management Corp Japan acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 92,524 shares of the bank's stock, valued at approximately $13,380,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BNY. BlackRock Inc. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. Bank of America Corp DE acquired a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $2,499,438,000. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $1,398,624,000. Finally, Wellington Management Group LLP purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $1,175,576,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Argus upped their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Citigroup lifted their target price on shares of 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. Zacks Research upgraded shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, Erste Group Bank started coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $157.13.

Insider Activity at Bank of New York Mellon

In other news, 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 transaction of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 0.2%

Shares of NYSE BNY opened at $162.50 on Friday. The business has a 50 day simple moving average of $155.73 and a 200 day simple moving average of $138.06. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The stock has a market cap of $110.26 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm 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 company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.

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