Osmosis Investment Management UK Ltd Purchases New Position in Bank of New York Mellon Corporation $BNY

Key Points

• Osmosis Investment Management UK Ltd acquired 24,278 shares of Bank of New York Mellon worth approximately $3.51 million during the second quarter. Institutional investors collectively own 85.31% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $157.13; several firms recently raised their targets to as high as $180.
• BNY reported quarterly EPS of $2.46, beating estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion. The stock opened at $158.72, near its 52-week high of $165.68.

Osmosis Investment Management UK Ltd acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,278 shares of the bank's stock, valued at approximately $3,511,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BNY. Abound Financial LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC grew its position in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Burnham & Co LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. Heritage Wealth Advisors purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In related 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Royal Bank Of Canada boosted 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. Argus raised 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. Finally, Erste Group Bank initiated coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $158.72 on Monday. The firm has a market cap of $107.69 billion, a P/E ratio of 18.48, 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 Corporation has a 1-year low of $101.71 and a 1-year high of $165.68. The firm has a fifty day moving average of $153.85 and a two-hundred day moving average of $136.72.

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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal 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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