6,802 Bank of New York Mellon Corporation $BNY Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC lifted its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 40.8% during the 3rd quarter, Holdings Channel reports. The firm owned 23,463 shares of the bank’s stock after buying an additional 6,802 shares during the period. Parallel Advisors LLC’s holdings in Bank of New York Mellon were worth $3,393,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. boosted its position in Bank of New York Mellon by 5.3% in the 3rd quarter. Oakworth Capital Inc. now owns 1,360 shares of the bank’s stock valued at $197,000 after buying an additional 68 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in Bank of New York Mellon by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank’s stock valued at $1,457,000 after purchasing an additional 77 shares during the period. Cornerstone Financial Management LLC boosted its holdings in Bank of New York Mellon by 11.4% in the second quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock valued at $113,000 after purchasing an additional 80 shares during the period. Physician Wealth Advisors Inc. grew its stake in Bank of New York Mellon by 49.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 272 shares of the bank’s stock worth $39,000 after purchasing an additional 90 shares in the last quarter. Finally, Riversedge Advisors LLC grew its position in shares of Bank of New York Mellon by 3.1% during the third quarter. Riversedge Advisors LLC now owns 3,035 shares of the bank’s stock worth $439,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, CEO Robin A. Vince sold 40,620 shares of the business’s 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 transaction, the chief executive officer owned 585,174 shares of the company’s stock, valued at approximately $86,494,568.94. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’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 sale, the vice president owned 173,304 shares of the company’s stock, valued at $25,616,064.24. This trade represents a 1.99% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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 Stock Up 0.1%

BNY opened at $147.92 on Monday. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $99.54 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The business’s 50-day simple moving average is $150.26 and its 200-day simple moving average is $139.94.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating 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 business had revenue of $5.68 billion during the quarter. Bank of New York Mellon’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

Wall Street Analysts Forecast Growth

BNY has been the topic of several analyst reports. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating on the stock. Zacks Research downgraded shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Bank of America lifted their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. Finally, Truist Financial decreased their target price on 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. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.04.

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.