Hikari Power Ltd trimmed its position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 80.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,945 shares of the bank’s stock after selling 95,500 shares during the quarter. Bank of New York Mellon accounts for 0.8% of Hikari Power Ltd’s investment portfolio, making the stock its 11th largest holding. Hikari Power Ltd’s holdings in Bank of New York Mellon were worth $3,463,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of BNY. BlackRock Inc. purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at $8,321,111,000. Bank of America Corp DE purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $1,214,193,000. Wellington Management Group LLP bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $1,175,576,000. Finally, Amundi bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $985,533,000. Institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Trading Up 1.0%
NYSE BNY opened at $149.25 on Wednesday. The company’s 50-day moving average price is $151.10 and its 200-day moving average price is $139.53. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock has a market cap of $100.43 billion, a PE ratio of 16.49, a PEG ratio of 0.98 and a beta of 1.02. Bank of New York Mellon Corporation has a 12 month low of $105.42 and a 12 month high of $165.84.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The company had revenue of $5.68 billion for the quarter. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.
Wall Street Analysts Forecast Growth
BNY has been the subject of several analyst reports. Truist Financial decreased their price objective on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, October 16th. New Street Research set a $182.00 target price on Bank of New York Mellon in a research note on Friday, October 16th. Wells Fargo & Company upped 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 note on Thursday, July 16th. Citigroup reduced their price target on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $165.04.
Get Our Latest Stock Analysis on BNY
Insider Buying and Selling
In related news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the completion of the sale, the vice president owned 173,304 shares in the company, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robin A. Vince sold 40,620 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the transaction, the chief executive officer directly owned 585,174 shares in the company, valued at approximately $86,494,568.94. This trade represents a 6.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,560 shares of company stock worth $9,007,119. Corporate insiders own 0.17% of the company’s stock.
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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Want to see what other hedge funds are holding BNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corporation (NYSE:BNY – Free Report).
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