180,621 Shares in Bank of New York Mellon Corporation $BNY Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 180,621 shares of the bank’s stock, valued at approximately $26,120,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its position in Bank of New York Mellon by 18,044.4% in the 4th 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 during the period. Norges Bank purchased a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 valued at $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $576,055,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $164.42 on Tuesday. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year high of $165.69. 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 business has a fifty day moving average of $152.42 and a two-hundred day moving average of $135.60. The company has a market cap of $111.56 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results 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 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 business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BNY has been the topic of a number of recent research reports. Barclays boosted their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Bank of America boosted their price objective 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. Truist Financial upped their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Citigroup lifted their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Erste Group Bank started coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. Two equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.