Kestra Advisory Services LLC increased its position in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 352.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 113,491 shares of the bank’s stock after buying an additional 88,420 shares during the period. Kestra Advisory Services LLC’s holdings in Bank of New York Mellon were worth $16,414,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of BNY. Focus Partners Advisor Solutions LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth about $1,128,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $13,234,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $3,688,000. Engineers Gate Manager LP bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $1,264,000. Finally, Corient Private Wealth LP bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $48,434,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Stock Up 0.1%
Shares of NYSE:BNY opened at $147.92 on Monday. The company has a market cap of $99.54 billion, a price-to-earnings ratio of 16.34, 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. 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 company has a 50-day moving average price of $150.26 and a 200 day moving average price of $139.94.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company had revenue of $5.68 billion for the quarter. Bank of New York Mellon’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.
Insider Activity at Bank of New York Mellon
In other news, CEO Robin A. Vince sold 9,380 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the transaction, the chief executive officer owned 575,794 shares of the company’s stock, valued at approximately $85,113,869.08. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the sale, the vice president owned 173,304 shares in the company, valued at $25,616,064.24. The trade was a 1.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,560 shares of company stock valued at $9,007,119 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on BNY. Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a research report on Friday, October 30th. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to 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 Report on BNY
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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