Hudson Portfolio Management LLC Invests $3.14 Million in Bank of New York Mellon Corporation $BNY

Hudson Portfolio Management LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,708 shares of the bank’s stock, valued at approximately $3,139,000. Bank of New York Mellon makes up approximately 2.4% of Hudson Portfolio Management LLC’s portfolio, making the stock its 8th biggest holding.

A number of other institutional investors also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter valued at $1,128,000. CIBC Asset Management Inc boosted its stake in Bank of New York Mellon by 53.8% in the fourth 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 in the last quarter. Todd Asset Management LLC grew its holdings in shares of Bank of New York Mellon by 37.5% during the fourth 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 increased 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 valued at $2,220,000 after buying an additional 9,865 shares in the last quarter. Finally, Bellars Harris Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at $10,324,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BNY. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Royal Bank Of Canada boosted 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 research note on Thursday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Barclays increased their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $162.09 on Thursday. The business’s 50-day simple moving average is $156.65 and its 200 day simple moving average is $138.99. 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 cap of $109.98 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.21 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 $165.68.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data 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 return on equity of 16.00% and a net margin of 15.52%.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 business posted $1.93 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares of the company’s stock, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the 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 SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

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.