Bank of New York Mellon Corporation $BNY Stake Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 13.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,266,864 shares of the bank’s stock after buying an additional 148,196 shares during the quarter. Russell Investments Group Ltd.’s holdings in Bank of New York Mellon were worth $183,517,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $8,321,111,000. Bank of America Corp DE purchased a new stake in Bank of New York Mellon in the second quarter worth $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $1,214,193,000. Wellington Management Group LLP bought a new stake in Bank of New York Mellon in the second quarter valued at $1,175,576,000. Finally, Amundi bought a new stake in Bank of New York Mellon in the second quarter valued at $985,533,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.0%

NYSE BNY opened at $152.76 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The firm has a market capitalization of $102.79 billion, a PE ratio of 16.88, a P/E/G ratio of 1.02 and a beta of 1.02. The stock’s 50 day moving average is $149.48 and its 200 day moving average is $140.59.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results 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. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In related news, 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 transaction of $520,291.20. Following the completion of the transaction, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robin A. Vince sold 9,380 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 575,794 shares in the company, valued at $85,113,869.08. The trade was a 1.60% 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 worth $9,007,119 over the last ninety days. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BNY shares. Barclays upped their price objective on shares of 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. Truist Financial cut their target price on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of New York Mellon in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target 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. Finally, Citigroup decreased their price target on shares of Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.