354,192 Shares in Bank of New York Mellon Corporation $BNY Acquired by Corient Private Wealth LP

Corient Private Wealth LP purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 354,192 shares of the bank’s stock, valued at approximately $51,219,000.

Several other institutional investors also recently modified their holdings of BNY. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $2,499,438,000. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $1,398,624,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank of New York Mellon by 639.5% during 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 valued at $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred on 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 is available at this link. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Down 0.5%

Shares of NYSE BNY opened at $162.28 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The business has a 50-day moving average price of $155.35 and a two-hundred day moving average price of $137.89. The firm has a market capitalization of $110.11 billion, a PE ratio of 18.89, a PEG ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for 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 firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BNY has been the topic of a number of analyst reports. Bank of America lifted 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. Citigroup upped their price objective on shares of 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Wells Fargo & Company lifted their target price 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, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company 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.