JNBA Financial Advisors Invests $471,000 in Bank of New York Mellon Corporation $BNY

JNBA Financial Advisors purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,255 shares of the bank’s stock, valued at approximately $471,000.

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

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the 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 in the company, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays raised 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 note on Thursday, July 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report 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 company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Down 0.5%

Shares of BNY stock opened at $161.73 on Tuesday. 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 stock has a market cap of $109.73 billion, a P/E ratio of 18.83, a PEG ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The company’s fifty day simple moving average is $156.03 and its two-hundred day simple moving average is $138.38.

Bank of New York Mellon (NYSE:BNY) last posted its 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted $1.93 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS 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.