OneDigital Investment Advisors LLC Invests $2.52 Million in Bank of New York Mellon Corporation $BNY

OneDigital Investment Advisors LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,441 shares of the bank’s stock, valued at approximately $2,522,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bank of New York Mellon by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after buying an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $1,398,624,000. Invesco Ltd. boosted its stake in shares of Bank of New York Mellon by 8.2% in the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after acquiring an additional 578,999 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bank of New York Mellon by 639.5% in the third 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 acquiring an additional 6,119,749 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

NYSE:BNY opened at $163.30 on Monday. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year high of $163.77. The stock has a market cap of $110.80 billion, a PE ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50 day moving average price of $151.97 and a 200 day moving average price of $135.28.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share 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 analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. Equities research 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 news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on BNY shares. Truist Financial increased their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods raised their price objective 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. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Royal Bank Of Canada upped their target price 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. Finally, Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.