Simplicity Wealth LLC Invests $1.05 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Simplicity Wealth LLC purchased 7,263 shares of Bank of New York Mellon valued at approximately $1.05 million in the second quarter. Institutional investors collectively own 85.31% of the company.
• BNY reported quarterly earnings of $2.46 per share and revenue of $5.70 billion, surpassing analyst expectations; revenue increased 13.3% year over year.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $157.13, while shares recently opened at $163.30 near their 52-week high.

Simplicity Wealth LLC purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,263 shares of the bank's stock, valued at approximately $1,050,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 18,044.4% during 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 buying an additional 19,561,793 shares during the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $492,663,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $227,437,000. 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 stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Trading Up 0.0%

Shares of NYSE:BNY opened at $163.30 on Monday. The company has a market capitalization of $110.80 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1 year low of $99.67 and a 1 year high of $163.77. 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's 50 day simple moving average is $151.97 and its 200 day simple moving average is $135.28.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping 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 return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $1.93 earnings per share. On average, research analysts anticipate 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 recent analyst reports. Barclays boosted 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. Argus boosted their target price on 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. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a "buy" rating on the stock. Truist Financial raised their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, 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 research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus 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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