NEOS Investment Management LLC Acquires Shares of 111,041 Bank of New York Mellon Corporation $BNY

NEOS Investment Management LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, Holdings Channel reports. The fund purchased 111,041 shares of the bank’s stock, valued at approximately $16,058,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its position in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Bank of America Corp DE purchased a new position in Bank of New York Mellon during the second quarter worth about $2,499,438,000. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $1,214,193,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BNY has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Erste Group Bank started coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Royal Bank Of Canada lifted 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 report on Thursday, July 16th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Finally, Barclays increased 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. Two 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 company. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the sale, the vice president owned 180,344 shares of the company’s stock, valued at $29,331,148.16. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.4%

NYSE:BNY opened at $165.05 on Friday. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.84. The firm has a market capitalization of $111.99 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day moving average is $157.46 and its two-hundred day moving average is $139.49.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data 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. 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 return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. Research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.