OMERS ADMINISTRATION Corp Makes New Investment in Bank of New York Mellon Corporation $BNY

OMERS ADMINISTRATION Corp acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 47,485 shares of the bank's stock, valued at approximately $6,867,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNY. Linscomb Wealth Inc. raised 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 period. Parkside Financial Bank & Trust raised its holdings in shares of Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock worth $326,000 after acquiring an additional 88 shares during the period. Essex Financial Services Inc. raised its holdings in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock worth $2,041,000 after acquiring an additional 89 shares during the period. Maia Wealth LLC boosted its stake in Bank of New York Mellon by 3.0% in the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank's stock worth $350,000 after purchasing an additional 90 shares during the period. Finally, Nemes Rush Group LLC boosted its stake in Bank of New York Mellon by 12.8% in the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank's stock worth $94,000 after purchasing an additional 92 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $162.14 on Tuesday. The company has a fifty day moving average price of $154.24 and a two-hundred day moving average price of $137.02. Bank of New York Mellon Corporation has a one year low of $101.71 and a one year high of $165.68. The stock has a market cap of $110.01 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. As a group, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BNY. Citigroup lifted their price target on 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. Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. Weiss Ratings cut Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Barclays upped their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Finally, Wells Fargo & Company raised their price target on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $157.13.

Bank of New York Mellon 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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