Rogco LP Purchases New Stake in Bank of New York Mellon Corporation $BNY

Rogco LP purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,118 shares of the bank’s stock, valued at approximately $740,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. Bank of America Corp DE purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $2,499,438,000. Norges Bank bought a new position in Bank of New York Mellon during the 4th quarter valued at approximately $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $1,214,193,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 1.3%

Shares of NYSE:BNY opened at $164.19 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 firm has a market capitalization of $111.40 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.22 and a beta of 1.05. The stock has a 50 day moving average price of $157.03 and a 200-day moving average price of $139.31. 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 (NYSE:BNY) last released 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 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 analyst estimates of $5.35 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNY has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on 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. Bank of America raised their price target 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. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Barclays boosted their price objective 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. Finally, Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a 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 stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $157.13.

About Bank of New York Mellon

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.