CTC Alternative Strategies Ltd. Makes New $622,000 Investment in Bank of New York Mellon Corporation $BNY

CTC Alternative Strategies Ltd. purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,300 shares of the bank’s stock, valued at approximately $622,000. Bank of New York Mellon makes up approximately 0.9% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 24th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in BNY. Linscomb Wealth Inc. lifted its holdings in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock valued at $376,000 after buying an additional 80 shares during the period. Parkside Financial Bank & Trust grew its holdings in Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after acquiring an additional 88 shares during the period. Essex Financial Services Inc. raised its position in Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after acquiring an additional 89 shares in the last quarter. Maia Wealth LLC raised its position in Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after acquiring an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its holdings in Bank of New York Mellon by 12.8% in the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock valued at $94,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s 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 Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on BNY shares. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Bank of America lifted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Argus boosted their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Citigroup raised their price objective on 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. Finally, Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Two 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, the company currently has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $162.50 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. 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 firm has a 50-day moving average price of $155.73 and a two-hundred day moving average price of $138.13. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.68.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.