WINTON GROUP Ltd Makes New Investment in Bank of New York Mellon Corporation $BNY

Key Points

• WINTON GROUP Ltd acquired 34,333 shares of Bank of New York Mellon worth approximately $4.97 million during the second quarter. Institutional investors and hedge funds collectively own 85.31% of the company.
• BNY reported quarterly EPS of $2.46, exceeding estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion. The stock opened at $162.60 and has traded between $103.11 and $165.84 over the past year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $157.13; Bank of America recently raised its target to $175. Company insiders, including the CFO and a vice president, reported stock sales.

WINTON GROUP Ltd acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 34,333 shares of the bank's stock, valued at approximately $4,965,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $220,000. Sivia Capital Partners LLC raised its position in shares of Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock worth $309,000 after acquiring an additional 909 shares in the last quarter. Jump Financial LLC purchased a new stake in Bank of New York Mellon during the second quarter worth approximately $2,482,000. Treasurer of the State of North Carolina lifted its stake in Bank of New York Mellon by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock worth $30,466,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its holdings in Bank of New York Mellon by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock valued at $109,000 after purchasing an additional 1,189 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BNY stock opened at $162.60 on Friday. The company has a market capitalization of $110.32 billion, a P/E ratio of 18.93, a PEG ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a twelve month low of $103.11 and a twelve month high of $165.84. The business has a 50 day simple moving average of $158.92 and a 200-day simple moving average of $140.91. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 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 analysts' expectations of $5.35 billion. During the same period in the previous year, the company posted $1.93 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analysts Set New Price Targets

BNY has been the topic of several recent analyst reports. Bank of America increased their price target 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. Weiss Ratings downgraded shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Zacks Research cut shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Finally, Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company's stock.

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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