Global Retirement Partners LLC Acquires Shares of 18,594 Bank of New York Mellon Corporation $BNY

Global Retirement Partners LLC bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,594 shares of the bank’s stock, valued at approximately $2,689,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 acquiring an additional 19,561,793 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $492,663,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Bank of New York Mellon during the fourth quarter valued at $227,437,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

BNY has been the topic of a number of recent research reports. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Barclays lifted their price target on 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. Argus boosted their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Trading Up 0.0%

Shares of NYSE:BNY opened at $163.30 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 stock has a market capitalization of $110.80 billion, a PE ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1 year low of $99.67 and a 1 year high of $163.77. The firm has a fifty day moving average price of $151.97 and a 200 day moving average price of $135.28.

Bank of New York Mellon (NYSE:BNY) last posted its 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. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates 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 business’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. Analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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.