IPG Investment Advisors LLC Invests $2.19 Million in Bank of New York Mellon Corporation $BNY

IPG Investment Advisors LLC purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, Holdings Channel reports. The fund purchased 15,113 shares of the bank’s stock, valued at approximately $2,185,000.

Other large investors have also recently modified their holdings of the company. Abound Financial LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth $25,000. MCF Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the period. Luken Investment Analytics LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $27,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $29,000. Finally, EFG International AG purchased a new position in shares of Bank of New York Mellon during the second quarter valued at $29,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the subject of several recent research reports. Truist Financial lifted their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Bank of America increased their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Zacks Research downgraded shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday. Argus boosted their price target 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. Finally, Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Insider Activity

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 SEC, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 0.1%

BNY opened at $163.08 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $110.65 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.84. The stock has a fifty day moving average price of $158.60 and a 200-day moving average price of $140.59.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data 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 return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company earned $1.93 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share 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.