166,202 Shares in Bank of New York Mellon Corporation $BNY Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 166,202 shares of the bank’s stock, valued at approximately $24,034,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 buying an additional 19,561,793 shares during the period. Norges Bank bought a new position in Bank of New York Mellon during the fourth quarter worth $1,398,624,000. Invesco Ltd. raised its stake in Bank of New York Mellon by 8.2% during the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after buying an additional 578,999 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 valued at $771,080,000 after buying an additional 6,119,749 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. 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 research report on Thursday, July 16th. Barclays boosted their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Erste Group Bank started coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. Finally, Bank of America raised their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. 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’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Trading Up 0.2%

NYSE BNY opened at $162.50 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The business has a 50 day moving average price of $155.73 and a 200-day moving average price of $138.06. The company has a market cap of $110.26 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned $1.93 EPS. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.