Beverly Hills Private Wealth LLC Makes New Investment in Bank of New York Mellon Corporation $BNY

Key Points

• Beverly Hills Private Wealth LLC acquired 12,815 shares of Bank of New York Mellon worth approximately $1.85 million during the second quarter. Institutional investors collectively own 85.31% of the company.
• BNY reported quarterly EPS of $2.46, beating estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion. Analysts project full-year EPS of $9.26.
• The stock opened at $163.30, near its 52-week high of $163.77, and analysts maintain a “Moderate Buy” consensus with an average price target of $157.13.

Beverly Hills Private Wealth LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,815 shares of the bank's stock, valued at approximately $1,853,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Bank of New York Mellon by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after buying an additional 647,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Norges Bank purchased a new position in Bank of New York Mellon in the fourth quarter worth about $1,398,624,000. Invesco Ltd. increased its stake in Bank of New York Mellon by 8.2% during the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank's stock worth $891,621,000 after acquiring an additional 578,999 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $163.30 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $110.80 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $99.67 and a 1-year high of $163.77. The company's 50-day moving average is $151.97 and its 200 day moving average is $135.28.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its 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 analyst estimates 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 company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. Research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

BNY has been the subject of several analyst reports. Citigroup raised their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Zacks Research upgraded Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Barclays increased their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Finally, 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 stock a "sector perform" rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.

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