Element Pointe Advisors LLC Purchases Shares of 15,010 Bank of New York Mellon Corporation $BNY

Element Pointe Advisors LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, HoldingsChannel reports. The fund acquired 15,010 shares of the bank’s stock, valued at approximately $2,171,000. Bank of New York Mellon comprises 0.3% of Element Pointe Advisors LLC’s holdings, making the stock its 22nd largest position.

Several other institutional investors also recently modified their holdings of BNY. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $220,000. Sivia Capital Partners LLC increased its holdings in shares of Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $2,482,000. Treasurer of the State of North Carolina raised its position in shares of Bank of New York Mellon by 1.7% in the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after purchasing an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. lifted its stake in shares of 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 during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Down 0.3%

Shares of BNY opened at $163.80 on Wednesday. Bank of New York Mellon Corporation has a 12 month low of $99.67 and a 12 month high of $165.68. The firm’s 50 day moving average is $152.84 and its 200-day moving average is $135.92. The stock has a market capitalization of $111.14 billion, a PE ratio of 19.07, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 earnings per share. Equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Citigroup raised their price objective on shares of 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. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Barclays increased their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Two research 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 stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $157.13.

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.