Nilsine Partners LLC Invests $3.87 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Nilsine Partners LLC established a new $3.87 million position in Bank of New York Mellon during the second quarter, purchasing 26,748 shares. Institutional investors collectively own 85.31% of the stock.
• Analyst sentiment is generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $157.13; several firms recently raised their targets, including Argus to $180.
• BNY reported stronger-than-expected quarterly results, with earnings of $2.46 per share and revenue of $5.70 billion, up 13.3% year over year. The stock opened at $165.05, near its 12-month high of $165.84.

Nilsine Partners LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,748 shares of the bank's stock, valued at approximately $3,868,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BNY. Linscomb Wealth Inc. lifted its holdings in Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock worth $376,000 after buying an additional 80 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Bank of New York Mellon by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock valued at $326,000 after acquiring an additional 88 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of Bank of New York Mellon by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock valued at $2,041,000 after acquiring an additional 89 shares during the last quarter. Maia Wealth LLC raised its position in shares of Bank of New York Mellon by 3.0% during the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank's stock valued at $350,000 after acquiring an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC raised its position in shares of Bank of New York Mellon by 12.8% during the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank's stock valued at $94,000 after acquiring an additional 92 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a "buy" rating on the stock. Zacks Research upgraded shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Finally, Argus boosted 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 report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.13.

Bank of New York Mellon Trading Up 0.4%

NYSE:BNY opened at $165.05 on Friday. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month high of $165.84. The firm has a market capitalization of $111.99 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.24 and a beta of 1.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $157.46 and a 200 day simple moving average of $139.49.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping 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 return on equity of 16.00% and a net margin of 15.52%.The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. Equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

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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