36,896 Shares in Bank of New York Mellon Corporation $BNY Acquired by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,896 shares of the bank’s stock, valued at approximately $5,336,000. Bank of New York Mellon makes up about 1.8% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 11th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $25,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $27,000. Burnham & Co LLC acquired a new stake in shares of 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 about $29,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value 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. This trade represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on BNY shares. Argus raised their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Finally, Citigroup lifted their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

NYSE:BNY traded down $1.93 on Tuesday, hitting $162.91. The company had a trading volume of 2,406,021 shares, compared to its average volume of 3,649,098. The firm has a 50 day moving average of $158.26 and a two-hundred day moving average of $140.28. The stock has a market capitalization of $110.54 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company earned $1.93 EPS. Bank of New York Mellon’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.