Principle Wealth Partners LLC Acquires Shares of 15,930 Bank of New York Mellon Corporation $BNY

Principle Wealth Partners LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,930 shares of the bank’s stock, valued at approximately $2,304,000.

Other large investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC bought a new stake in Bank of New York Mellon during the second quarter worth about $1,128,000. CIBC Asset Management Inc raised its stake in shares of Bank of New York Mellon by 53.8% in the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after acquiring an additional 63,627 shares during the last quarter. Todd Asset Management LLC raised its stake in shares of Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after acquiring an additional 101,142 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of 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 worth $2,220,000 after acquiring an additional 9,865 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 26.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 124,015 shares of the bank’s stock worth $14,397,000 after acquiring an additional 25,642 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of research analyst reports. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their price objective on 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. 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 report on Thursday, July 16th. Finally, Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Two research 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 price target of $157.13.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY opened at $164.42 on Tuesday. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year high of $165.69. 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 company’s 50 day simple moving average is $152.42 and its 200-day simple moving average is $135.60. The stock has a market capitalization of $111.56 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

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 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business posted $1.93 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.