Focus Partners Advisor Solutions LLC Makes New $1.13 Million Investment in Bank of New York Mellon Corporation $BNY

Key Points

• Focus Partners Advisor Solutions acquired 7,799 BNY shares worth approximately $1.13 million during the second quarter. Institutional investors collectively own 85.31% of the company’s outstanding stock.
• BNY reported strong quarterly results, with EPS of $2.46 beating estimates of $2.16 and revenue of $5.70 billion, up 13.3% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $157.13, while CFO Dermot McDonogh sold 31,800 shares at an average price of $155.26.

Focus Partners Advisor Solutions LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,799 shares of the bank's stock, valued at approximately $1,128,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNY. Abound Financial LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $25,000. MCF Advisors LLC lifted its stake in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock worth $27,000 after acquiring an additional 101 shares during the last quarter. Heritage Wealth Advisors purchased a new position in Bank of New York Mellon in the fourth quarter worth approximately $31,000. Wilkerson Advisory Group LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $31,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $44,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction dated 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 SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BNY has been the topic of a number of analyst reports. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 20th. Royal Bank Of Canada boosted their target price 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. Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Weiss Ratings cut Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday. 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 investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Trading Up 0.0%

Shares of Bank of New York Mellon stock opened at $163.30 on Monday. The company has a fifty day simple moving average of $151.97 and a 200-day simple moving average of $135.28. Bank of New York Mellon Corporation has a 12-month low of $99.67 and a 12-month high of $163.77. 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 $110.80 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 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 firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the firm posted $1.93 EPS. The company's revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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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