Meeder Advisory Services Inc. Acquires New Shares in Bank of New York Mellon Corporation $BNY

Meeder Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 25,513 shares of the bank’s stock, valued at approximately $3,689,000.

A number of other institutional investors also recently bought and sold shares of BNY. Meeder Asset Management Inc. purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $28,211,000. Tiemann Investment Advisors LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at approximately $414,000. Citizens Financial Group Inc. RI purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at approximately $26,120,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Bank of New York Mellon during the 2nd quarter valued at $542,000. Finally, Grandfield & Dodd LLC purchased a new position in Bank of New York Mellon during the second quarter worth $259,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BNY shares. Royal Bank Of Canada upped their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Barclays lifted their price target on shares of 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. Finally, Argus upped their price objective on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $163.80 on Wednesday. The business’s 50-day moving average price is $152.84 and its 200 day moving average price is $135.92. Bank of New York Mellon Corporation has a twelve month low of $99.67 and a twelve month high of $165.68. The company has a market capitalization of $111.14 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last posted 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 return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.