Trivium Point Advisory LLC Makes New $2.27 Million Investment in Bank of New York Mellon Corporation $BNY

Trivium Point Advisory LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 15,673 shares of the bank’s stock, valued at approximately $2,266,000.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on BNY shares. Bank of America upped their target price 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. Barclays boosted their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Argus upped their price objective on 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. Erste Group Bank assumed coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating on the stock. Finally, Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Price Performance

BNY stock opened at $163.30 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $110.80 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.16 and a beta of 1.06. The company’s fifty day simple moving average is $151.97 and its 200 day simple moving average is $135.28. Bank of New York Mellon Corporation has a 12-month low of $99.67 and a 12-month high of $163.77.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. On average, analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.