Van Hulzen Asset Management LLC Buys Shares of 6,118 Bank of New York Mellon Corporation $BNY

Van Hulzen Asset Management LLC bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,118 shares of the bank’s stock, valued at approximately $885,000.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $220,000. Sivia Capital Partners LLC boosted its stake in Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares during the period. Jump Financial LLC bought a new position in Bank of New York Mellon during the 2nd quarter worth about $2,482,000. Treasurer of the State of North Carolina lifted its stake in Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after acquiring an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its position in Bank of New York Mellon by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock worth $109,000 after buying an additional 1,189 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BNY shares. Keefe, Bruyette & Woods upped their price target 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. Zacks Research lowered Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target 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. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating on the stock. Finally, Truist Financial boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $162.60 on Friday. The stock’s 50-day moving average is $158.92 and its 200-day moving average is $140.91. Bank of New York Mellon Corporation has a 1-year low of $103.11 and a 1-year high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market cap of $110.32 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business earned $1.93 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Equities 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, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were 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 SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was 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 represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

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.