Public Employees Retirement System of Ohio Takes $40.48 Million Position in Bank of New York Mellon Corporation $BNY

Public Employees Retirement System of Ohio acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 279,924 shares of the bank’s stock, valued at approximately $40,480,000.

Several other large investors also recently bought and sold shares of BNY. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $25,000. MCF Advisors LLC grew its holdings 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 valued at $27,000 after buying an additional 101 shares during the last quarter. Burnham & Co LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $29,000. EFG International AG acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $29,000. Finally, Heritage Wealth Advisors purchased a new position in Bank of New York Mellon in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred 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 accessible through this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BNY. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Truist Financial raised their price target on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Barclays lifted their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Up 0.2%

BNY stock opened at $162.50 on Friday. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year 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 firm’s fifty day moving average is $155.73 and its 200 day moving average is $138.06. The firm has a market cap of $110.26 billion, a PE ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company posted $1.93 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS 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.