Public Employees Retirement System of Ohio Takes $40.48 Million Position in Bank of New York Mellon Corporation $BNY

Public Employees Retirement System of Ohio bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, Holdings Channel reports. The institutional investor bought 279,924 shares of the bank’s stock, valued at approximately $40,480,000.

Several other hedge funds have also recently modified their holdings of BNY. BlackRock Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $2,499,438,000. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $1,398,624,000. 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. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon 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 value of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on BNY shares. Citigroup increased their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Barclays increased their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Wells Fargo & Company boosted their price target 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 report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Up 0.2%

Shares of BNY opened at $162.50 on Friday. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $138.06. The company has a market capitalization of $110.26 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.