Evolve Private Wealth LLC Buys New Position in Bank of New York Mellon Corporation $BNY

Evolve Private Wealth LLC bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 3,609 shares of the bank’s stock, valued at approximately $522,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after buying an additional 647,847 shares in the last quarter. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the second quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bank of New York Mellon by 18,044.4% in 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 last quarter. Norges Bank purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth $1,398,624,000. Finally, Invesco Ltd. grew its holdings 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 valued at $891,621,000 after purchasing an additional 578,999 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $162.14 on Tuesday. The firm has a 50 day moving average of $154.24 and a 200-day moving average of $137.02. The company has a market cap of $110.01 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. 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 $101.71 and a 52 week high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the company posted $1.93 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BNY. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada upped their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Bank of America upped their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Argus boosted their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

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.