5,047 Bank of New York Mellon Corporation $BNY Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,918 shares of the bank’s stock after purchasing an additional 5,047 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of New York Mellon were worth $6,063,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Luken Investment Analytics LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $27,000. Balance Wealth Partners LLC bought a new position in Bank of New York Mellon in the third quarter valued at about $28,000. Burnham & Co LLC bought a new position in Bank of New York Mellon in the second quarter valued at about $29,000. EFG International AG acquired a new position in Bank of New York Mellon during the 2nd quarter worth approximately $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

BNY has been the subject of a number of research reports. Citigroup dropped their price objective on shares of Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Truist Financial decreased their target price on Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, October 16th. TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, New Street Research set a $182.00 price objective on shares of Bank of New York Mellon in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $165.04.

Bank of New York Mellon Trading Up 0.0%

NYSE BNY opened at $152.76 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $149.48 and a 200 day simple moving average of $140.59. Bank of New York Mellon Corporation has a 12 month low of $105.42 and a 12 month high of $165.84. The firm has a market capitalization of $102.79 billion, a P/E ratio of 16.88, a PEG ratio of 1.02 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The firm had revenue of $5.68 billion for the quarter. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total transaction of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares in the company, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robin Vince sold 40,620 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the completion of the sale, the chief executive officer directly owned 585,174 shares of the company’s stock, valued at $86,494,568.94. The trade was a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,560 shares of company stock worth $9,007,119 over the last three months. 0.17% of the stock is owned by insiders.

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.