13,728 Bank of New York Mellon Corporation $BNY Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 205.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,422 shares of the bank’s stock after buying an additional 13,728 shares during the period. Great Lakes Retirement Inc.’s holdings in Bank of New York Mellon were worth $2,954,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BNY. Focus Partners Advisor Solutions LLC bought a new position in Bank of New York Mellon in the second quarter valued at about $1,128,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $13,234,000. Engineers Gate Manager LP bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $1,264,000. Corient Private Wealth LP bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $48,434,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $6,238,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BNY. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating on the stock. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Truist Financial cut their target price on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, October 16th. 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. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $164.62.

Insider Buying and Selling

In other news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the transaction, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. The trade was a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 0.5%

Shares of Bank of New York Mellon stock opened at $147.86 on Wednesday. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The stock’s fifty day moving average is $152.30 and its 200 day moving average is $138.85.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.11. The company had revenue of $5.68 billion for the quarter. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Bank of New York Mellon Corporation will post 9.39 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.