Railway Pension Investments Ltd Invests $10.17 Million in Bank of New York Mellon Corporation $BNY

Railway Pension Investments Ltd purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 70,300 shares of the bank's stock, valued at approximately $10,166,000.

A number of other institutional investors also recently modified their holdings of BNY. Linscomb Wealth Inc. increased its position in Bank of New York Mellon by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock valued at $376,000 after acquiring an additional 80 shares in the last quarter. Parkside Financial Bank & Trust boosted its position 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 worth $326,000 after purchasing an additional 88 shares during the last quarter. Essex Financial Services Inc. grew its position in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock worth $2,041,000 after buying an additional 89 shares during the period. Maia Wealth LLC increased its stake in Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank's stock valued at $350,000 after purchasing an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC raised its stake in 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 worth $94,000 after buying an additional 92 shares during the period. Institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. This represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Trading Down 0.5%

BNY opened at $161.73 on Tuesday. The stock has a market cap of $109.73 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $156.03 and a 200-day moving average of $138.38. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released 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 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 company earned $1.93 EPS. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BNY shares. JPMorgan Chase & Co. boosted their price target on 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. Barclays raised their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Argus lifted their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their price target on shares of 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. Two investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $157.13.

Bank of New York Mellon Company 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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