Welch Capital Partners LLC NY Purchases New Position in Bank of New York Mellon Corporation $BNY

Welch Capital Partners LLC NY purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,701 shares of the bank’s stock, valued at approximately $535,000. Bank of New York Mellon makes up 0.1% of Welch Capital Partners LLC NY’s holdings, making the stock its 18th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC grew its position in Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the last quarter. Jump Financial LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $2,482,000. Treasurer of the State of North Carolina increased its holdings in Bank of New York Mellon by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. increased its holdings in Bank of New York Mellon by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.9%

Shares of BNY opened at $158.72 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 12-month low of $101.71 and a 12-month high of $165.68. The firm has a market capitalization of $107.69 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. The stock’s fifty day simple moving average is $153.85 and its 200-day simple moving average is $136.61.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion for 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 quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.93 earnings per share. As a group, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BNY shares. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Truist Financial raised their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Barclays raised their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Argus upped their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Company 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.