5,894 Shares in Bank of New York Mellon Corporation $BNY Bought by Sigma Planning Corp

Sigma Planning Corp purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel reports. The institutional investor purchased 5,894 shares of the bank’s stock, valued at approximately $852,000.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in Bank of New York Mellon in the 2nd quarter valued at approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after purchasing 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 in the second quarter valued at approximately $2,499,438,000. Norges Bank bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth $1,214,193,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $160.27 on Wednesday. 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 firm’s fifty day moving average price is $156.29 and its two-hundred day moving average price is $138.65. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68. The firm has a market capitalization of $108.74 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06.

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, beating analysts’ consensus estimates 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 company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BNY shares. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Erste Group Bank began coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upped their target price 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Company 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.