Bank of New York Mellon Corporation $BNY Stock: Baldwin Wealth Partners LLC MA Boosts Holdings

Baldwin Wealth Partners LLC MA raised its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 704.8% in the 3rd quarter, Holdings Channel reports. The firm owned 136,188 shares of the bank’s stock after purchasing an additional 119,266 shares during the quarter. Bank of New York Mellon accounts for 1.3% of Baldwin Wealth Partners LLC MA’s investment portfolio, making the stock its 20th largest holding. Baldwin Wealth Partners LLC MA’s holdings in Bank of New York Mellon were worth $19,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Bank of New York Mellon during the second quarter worth about $8,321,111,000. Bank of America Corp DE acquired a new position in shares of Bank of New York Mellon in the second quarter worth approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bank of New York Mellon in the second quarter worth approximately $1,214,193,000. Wellington Management Group LLP acquired a new position in shares of Bank of New York Mellon in the second quarter worth approximately $1,175,576,000. Finally, Amundi bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $985,533,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BNY shares. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Truist Financial dropped their price target on shares of Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Zacks Research lowered shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.38.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon 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 transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the transaction, the vice president owned 176,824 shares in the company, valued at $26,309,642.96. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,840 shares of company stock worth $6,033,502. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Up 0.0%

Shares of Bank of New York Mellon stock opened at $142.78 on Tuesday. Bank of New York Mellon Corporation has a one year low of $103.11 and a one year high of $165.84. 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 stock’s 50-day moving average is $156.06 and its 200 day moving average is $145.87. The firm has a market cap of $96.88 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.11 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 earnings per share. Equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.27 EPS for the current 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.