Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Bank of New York Mellon Corporation $BNY

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,671,392 shares of the bank’s stock, valued at approximately $241,700,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Bank of New York Mellon at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. MCF Advisors LLC increased its position in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Heritage Wealth Advisors acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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. Argus upped their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Citigroup increased their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Barclays boosted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Up 0.7%

Shares of NYSE BNY opened at $164.42 on Tuesday. 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 company has a market cap of $111.56 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 12 month low of $99.67 and a 12 month high of $165.69. The stock has a 50-day moving average price of $152.42 and a two-hundred day moving average price of $135.60.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.93 EPS. As a group, analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

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.