Goodwin Investment Advisory Buys Shares of 11,344 Bank of New York Mellon Corporation $BNY

Goodwin Investment Advisory purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 11,344 shares of the bank’s stock, valued at approximately $1,640,000. Bank of New York Mellon accounts for 3.3% of Goodwin Investment Advisory’s holdings, making the stock its 6th largest position.

A number of other large investors also recently modified their holdings of the business. Focus Partners Advisor Solutions LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $1,128,000. CIBC Asset Management Inc increased its position in shares of Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after purchasing an additional 63,627 shares during the last quarter. Todd Asset Management LLC increased its position in shares of Bank of New York Mellon by 37.5% during the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after purchasing an additional 101,142 shares during the last quarter. Prospera Financial Services Inc raised its holdings 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 buying an additional 9,865 shares during the period. Finally, Bellars Harris Wealth Management LLC acquired a new position in Bank of New York Mellon in the second quarter valued at about $10,324,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BNY shares. Argus lifted their target price 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. Royal Bank Of Canada increased their target price on shares of 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. 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. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Citigroup raised their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Trading Up 0.2%

NYSE BNY opened at $162.50 on Friday. The firm’s fifty day moving average price is $155.73 and its 200 day moving average price is $138.06. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.68. 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 company has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results 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 net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the company earned $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Bank of New York Mellon 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.