Van Hulzen Asset Management LLC Invests $885,000 in Bank of New York Mellon Corporation $BNY

Van Hulzen Asset Management LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel.com reports. The fund acquired 6,118 shares of the bank’s stock, valued at approximately $885,000.

A number of other hedge funds have also bought and sold shares of the company. Abound Financial LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $25,000. MCF Advisors LLC grew its stake in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Luken Investment Analytics LLC acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $27,000. Burnham & Co LLC bought a new stake in Bank of New York Mellon in the second quarter worth approximately $29,000. Finally, EFG International AG bought a new stake in Bank of New York Mellon in the second quarter worth approximately $29,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.1%

NYSE BNY opened at $162.60 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52 week low of $103.11 and a 52 week high of $165.84. The business has a 50 day moving average price of $158.92 and a 200-day moving average price of $140.91. The company has a market cap of $110.32 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.22 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.35 billion. During the same period last year, the business earned $1.93 EPS. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BNY has been the topic of a number of research analyst reports. Citigroup increased their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated 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. Corporate insiders own 0.17% of the company’s stock.

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.