Van Hulzen Asset Management LLC Buys New Position in Bank of New York Mellon Corporation $BNY

Van Hulzen Asset Management LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 6,118 shares of the bank’s stock, valued at approximately $885,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $1,128,000. CIBC Asset Management Inc boosted its position in Bank of New York Mellon by 53.8% in the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after buying an additional 63,627 shares during the period. Todd Asset Management LLC grew its stake in shares of Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after acquiring an additional 101,142 shares in the last quarter. Prospera Financial Services Inc grew its stake in shares of Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock worth $2,220,000 after acquiring an additional 9,865 shares in the last quarter. Finally, Bellars Harris Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $10,324,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 2.3%

NYSE:BNY opened at $162.14 on Tuesday. Bank of New York Mellon Corporation has a 1 year low of $101.71 and a 1 year high of $165.68. The stock has a market cap of $110.01 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50-day simple moving average of $154.24 and a 200-day simple moving average of $137.02.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BNY. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Argus lifted their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Bank of America boosted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Buying and Selling

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.