4,594 Shares of Bank of New York Mellon Corporation $BNY Bought by R Squared Ltd

R Squared Ltd bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,594 shares of the bank’s stock, valued at approximately $664,000.

Several other hedge funds and other institutional investors have also modified their holdings of BNY. BlackRock Inc. acquired a new position in Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Bank of America Corp DE acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $1,214,193,000. Wellington Management Group LLP acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $1,175,576,000. Finally, Amundi bought a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $985,533,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a research report on Friday, October 16th. New Street Research set a $182.00 price target on Bank of New York Mellon in a report on Friday, October 16th. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a research note on Friday, October 30th. Zacks Research lowered Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Citigroup lowered their price objective on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.04.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $152.76 on Friday. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $149.48 and a two-hundred day simple moving average of $140.59. The stock has a market capitalization of $102.79 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robin A. Vince sold 40,620 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 585,174 shares of the company’s stock, valued at $86,494,568.94. This trade represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the completion of the transaction, the vice president owned 173,304 shares in the company, valued at approximately $25,616,064.24. This represents a 1.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,560 shares of company stock valued at $9,007,119 in the last three months. 0.17% of the stock is owned by insiders.

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.