Daiichi Life Insurance Co. Ltd. Acquires New Stake in Bank of New York Mellon Corporation $BNY

Daiichi Life Insurance Co. Ltd. acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,638 shares of the bank's stock, valued at approximately $4,575,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNY. Vanguard Group Inc. boosted its position in Bank of New York Mellon by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. BlackRock Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its holdings in Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Norges Bank purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $1,398,624,000. Finally, Invesco Ltd. boosted its holdings in shares of Bank of New York Mellon by 8.2% during the 4th quarter. Invesco Ltd. now owns 7,680,429 shares of the bank's stock worth $891,621,000 after purchasing an additional 578,999 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

BNY has been the subject of a number of analyst reports. Bank of America upped their price target on 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. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Argus boosted their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $157.13.

Bank of New York Mellon Trading Up 0.1%

Shares of Bank of New York Mellon stock opened at $158.72 on Monday. The stock has a 50 day moving average of $153.85 and a 200 day moving average of $136.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $107.69 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.12 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $101.71 and a fifty-two week high of $165.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

About Bank of New York Mellon

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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