8,129,285 Shares in Bank of New York Mellon Corporation $BNY Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,129,285 shares of the bank’s stock, valued at approximately $1,175,576,000.

A number of other large investors also recently added to or reduced their stakes in the business. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC raised its stake in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Burnham & Co LLC acquired a new position in Bank of New York Mellon in the second quarter valued at approximately $29,000. EFG International AG acquired a new position in Bank of New York Mellon in the second quarter valued at approximately $29,000. Finally, Heritage Wealth Advisors bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $31,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BNY has been the subject of a number of analyst reports. Bank of America lifted their target price 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. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating on the stock. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Citigroup upped their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Up 0.2%

Shares of NYSE:BNY opened at $162.50 on Friday. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $110.26 billion, a PE ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. The company has a 50 day moving average price of $155.73 and a two-hundred day moving average price of $138.06.

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, topping 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 net margin of 15.52% and a return on equity of 16.00%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.93 earnings per share. Analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current 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.