21,708 Shares in Bank of New York Mellon Corporation $BNY Purchased by Hudson Portfolio Management LLC

Hudson Portfolio Management LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,708 shares of the bank’s stock, valued at approximately $3,139,000. Bank of New York Mellon comprises approximately 2.4% of Hudson Portfolio Management LLC’s portfolio, making the stock its 9th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at $1,128,000. CIBC Asset Management Inc increased its position in 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 in the last quarter. Todd Asset Management LLC raised its stake in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after purchasing an additional 101,142 shares during the last quarter. Prospera Financial Services Inc raised its stake 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 purchasing an additional 9,865 shares during the last quarter. Finally, Bellars Harris Wealth Management LLC purchased a new position in Bank of New York Mellon in the 2nd quarter valued at about $10,324,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.9%

Shares of BNY stock opened at $158.72 on Friday. The stock has a market cap of $107.69 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. 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 fifty-two week low of $101.71 and a fifty-two week high of $165.68. The firm’s 50 day moving average price is $153.85 and its two-hundred day moving average price is $136.61.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Argus raised their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Bank of America lifted their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.13.

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.