Kintegral Advisory LLC Invests $14.19 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Kintegral Advisory LLC acquired 98,105 shares of Bank of New York Mellon worth approximately $14.19 million, making BNY about 1.2% of its portfolio. Institutional investors and hedge funds collectively own 85.31% of the stock.
• BNY reported strong quarterly results, with earnings per share of $2.46 versus the $2.16 consensus estimate and revenue of $5.70 billion, up 13.3% year over year.
• Analysts remain broadly positive, assigning the stock a consensus “Moderate Buy” rating and an average price target of $157.13, while shares recently opened at $162.50 near their 52-week high.

Kintegral Advisory LLC purchased 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 and Exchange Commission (SEC). The fund purchased 98,105 shares of the bank's stock, valued at approximately $14,187,000. Bank of New York Mellon makes up approximately 1.2% of Kintegral Advisory LLC's holdings, making the stock its 17th biggest holding.

Several other large investors have also recently bought and sold shares of BNY. BlackRock Inc. purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $8,321,111,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bank of New York Mellon by 18,044.4% in 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 in the last quarter. 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 acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $1,214,193,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $162.50 on Monday. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The company has a market capitalization of $110.26 billion, a PE ratio of 18.92, a price-to-earnings-growth 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. The company has a fifty day moving average of $155.73 and a 200-day moving average of $138.13.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released 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. 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 last year, the business posted $1.93 EPS. Bank of New York Mellon's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price 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. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. 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 report on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on 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, Truist Financial increased their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Two 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Insider Activity

In other Bank of New York Mellon 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company's stock.

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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