Hikari Power Ltd Invests $17.27 Million in Bank of New York Mellon Corporation $BNY

Hikari Power Ltd purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel reports. The fund purchased 119,445 shares of the bank’s stock, valued at approximately $17,273,000. Bank of New York Mellon comprises 2.0% of Hikari Power Ltd’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after purchasing an additional 63,627 shares in the last quarter. Todd Asset Management LLC lifted its stake in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after buying an additional 101,142 shares in the last quarter. Prospera Financial Services Inc lifted its stake in Bank of New York Mellon by 106.5% in the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after buying an additional 9,865 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Bank of New York Mellon by 26.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 124,015 shares of the bank’s stock valued at $14,397,000 after buying an additional 25,642 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Bank of New York Mellon by 282.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 92,414 shares of the bank’s stock valued at $10,728,000 after buying an additional 68,262 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 value of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 0.0%

BNY stock opened at $163.30 on Monday. The company has a 50 day moving average price of $151.97 and a two-hundred day moving average price of $135.28. 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 stock has a market capitalization of $110.80 billion, a P/E ratio of 19.01, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year high of $163.77.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company posted $1.93 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BNY. Royal Bank Of Canada raised their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price objective on 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. Bank of America lifted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Barclays lifted their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Two research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

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.