Livforsakringsbolaget Skandia Omsesidigt Takes Position in Bank of New York Mellon Corporation $BNY

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,784 shares of the bank’s stock, valued at approximately $547,000.

A number of other institutional investors have also recently bought and sold shares of BNY. Abound Financial LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $25,000. MCF Advisors LLC lifted its position in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares in the last quarter. Burnham & Co LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $29,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $29,000. Finally, Heritage Wealth Advisors bought a new stake in Bank of New York Mellon during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BNY shares. Truist Financial increased their target price 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. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted 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 report on Tuesday, August 4th. Finally, Barclays increased their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, 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 Trading Up 0.2%

Shares of NYSE: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 debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $110.26 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a 50-day simple moving average of $155.73 and a 200 day simple moving average of $138.06.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.