S&G Foundation Takes Position in Bank of New York Mellon Corporation $BNY

S&G Foundation bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, Holdings Channel.com reports. The firm bought 251,000 shares of the bank’s stock, valued at approximately $36,297,000. Bank of New York Mellon comprises approximately 1.7% of S&G Foundation’s holdings, making the stock its 8th biggest position.

Other large investors have also recently bought and sold shares of the company. Burnham & Co LLC acquired a new position in Bank of New York Mellon during the second quarter worth $29,000. Abound Financial LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth about $32,000. 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. Finally, MidFirst Bank acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 document filed with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BNY shares. Barclays raised their price target 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. JPMorgan Chase & Co. increased their price objective on 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. 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 report on Monday, July 20th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, Truist Financial boosted their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Two 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY opened at $158.72 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $107.69 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.12 and a beta of 1.06. The stock’s fifty day moving average price is $153.85 and its two-hundred day moving average price is $136.61. Bank of New York Mellon Corporation has a one year low of $101.71 and a one year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its 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 company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current 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.