Hudson Portfolio Management LLC Invests $3.14 Million in Bank of New York Mellon Corporation $BNY

Hudson Portfolio Management LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,708 shares of the bank's stock, valued at approximately $3,139,000. Bank of New York Mellon accounts for approximately 2.4% of Hudson Portfolio Management LLC's portfolio, making the stock its 9th biggest position.

A number of other large investors have also recently bought and sold shares of BNY. Compass Financial Management LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $761,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $5,622,000. Alta Advisers Ltd purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $379,000. Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $4,575,000. Finally, Commerce Bank acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $7,636,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.9%

BNY stock opened at $158.72 on Friday. 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 company's 50-day moving average price is $153.85 and its 200 day moving average price is $136.61. Bank of New York Mellon Corporation has a 52 week low of $101.71 and a 52 week high of $165.68. The company has a market cap of $107.69 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results 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 company had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same period last year, the company posted $1.93 earnings per share. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial raised 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. Zacks Research raised Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Bank of America lifted their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Argus boosted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $157.13.

Insider Buying and Selling at Bank of New York Mellon

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 value of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon 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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