43,924 Shares in Bank of New York Mellon Corporation $BNY Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 43,924 shares of the bank’s stock, valued at approximately $6,352,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $1,128,000. CIBC Asset Management Inc raised its holdings 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 worth $21,129,000 after acquiring an additional 63,627 shares during the last quarter. Todd Asset Management LLC lifted its position in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after acquiring an additional 101,142 shares in the last quarter. Prospera Financial Services Inc lifted its position in Bank of New York Mellon by 106.5% in the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $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 Bank of New York Mellon during the 2nd quarter valued at $10,324,000. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on BNY shares. Royal Bank Of Canada lifted their target price on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Argus increased 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 report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Truist Financial lifted their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Two 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. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $162.28 on Friday. The firm’s 50 day moving average price is $155.35 and its 200-day moving average price is $137.89. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $110.11 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the firm earned $1.93 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.