Jupiter Topco LLC Buys New Shares in Bank of New York Mellon Corporation $BNY

Jupiter Topco LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 586,127 shares of the bank’s stock, valued at approximately $84,751,000. Jupiter Topco LLC owned 0.09% of Bank of New York Mellon as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its stake 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 acquiring an additional 19,561,793 shares during the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Bank of New York Mellon by 639.5% in 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 period. Finally, Legal & General Group Plc purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $813,009,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 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 document filed with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

BNY stock opened at $163.31 on Thursday. The firm has a market cap of $110.81 billion, a P/E ratio of 19.01, a price-to-earnings-growth 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. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68. The stock has a 50-day simple moving average of $154.98 and a 200-day simple moving average of $137.62.

Bank of New York Mellon (NYSE:BNY) last released 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 firm 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%.Bank of New York Mellon’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. On average, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BNY shares. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Bank of America raised 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 report on Monday, July 20th. Weiss Ratings cut 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. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Erste Group Bank assumed 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 analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average 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.