VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 490,809 Bank of New York Mellon Corporation $BNY

Key Points

• Virginia Retirement Systems acquired 490,809 shares of Bank of New York Mellon valued at approximately $71.0 million, representing 0.07% of the company. Institutional investors and hedge funds collectively own 85.31% of the stock.
• BNY reported quarterly earnings of $2.46 per share, beating estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $157.13; shares recently opened at $165.05.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 490,809 shares of the bank's stock, valued at approximately $70,976,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of Bank of New York Mellon as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BNY. Luken Investment Analytics LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $27,000. EFG International AG purchased a new stake in Bank of New York Mellon during the 2nd quarter worth $29,000. Burnham & Co LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth $29,000. Abound Financial LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth $25,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Bank of New York Mellon in the 2nd quarter valued at about $32,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BNY opened at $165.05 on Monday. The company has a market capitalization of $111.99 billion, a P/E ratio of 19.21, a PEG ratio of 1.24 and a beta of 1.05. The company has a 50-day moving average of $157.46 and a 200-day moving average of $139.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.84.

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 the consensus estimate of $2.16 by $0.30. The business 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%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. Equities analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president owned 180,344 shares of the company's stock, valued at $29,331,148.16. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

BNY has been the subject of several recent analyst reports. 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. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Weiss Ratings lowered Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada upped their target price on Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $157.13.

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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