ABN AMRO Bank N.V. Makes New $2.15 Million Investment in Bank of New York Mellon Corporation $BNY

ABN AMRO Bank N.V. acquired 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 firm acquired 14,920 shares of the bank's stock, valued at approximately $2,147,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after buying an additional 19,561,793 shares during the period. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of New York Mellon by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock valued at $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $227,437,000. Finally, Federated Hermes Inc. grew its holdings in Bank of New York Mellon by 101.9% during the 4th quarter. Federated Hermes Inc. now owns 3,420,804 shares of the bank's stock worth $397,121,000 after acquiring an additional 1,726,556 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $163.30 on Friday. 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 12-month low of $99.67 and a 12-month high of $163.77. The firm has a fifty day moving average of $151.97 and a 200-day moving average of $135.17. The firm has a market capitalization of $110.80 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the business posted $1.93 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on BNY shares. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set a "buy" rating for the company. Bank of America raised their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Citigroup lifted their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Royal Bank Of Canada upped their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Finally, Argus increased their target price on 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. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by company 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.

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