57,020 Shares in Bank of New York Mellon Corporation $BNY Acquired by Integrated Wealth Concepts LLC

by · The Markets Daily

Integrated Wealth Concepts LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,020 shares of the bank’s stock, valued at approximately $8,246,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BNY. Abound Financial LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $25,000. MCF Advisors LLC boosted its stake in Bank of New York Mellon by 74.8% during the 4th 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. Luken Investment Analytics LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $27,000. Burnham & Co LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $29,000. Finally, EFG International AG acquired a new position in Bank of New York Mellon in the second quarter valued at $29,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 Securities & Exchange Commission, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Up 0.1%

Shares of NYSE:BNY opened at $162.60 on Friday. Bank of New York Mellon Corporation has a fifty-two week low of $103.11 and a fifty-two week high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $158.92 and its 200-day simple moving average is $140.91. The company has a market cap of $110.32 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.22 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its quarterly 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. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating for the company. Barclays raised their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Bank of America upped their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Argus upped their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Read Our Latest Research Report on BNY

About Bank of New York Mellon

(Free Report)

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.

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