Bank of New York Mellon Corporation $BNY Stock: Knights of Columbus Asset Advisors LLC Lowers Stake

Knights of Columbus Asset Advisors LLC reduced its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 41.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,847 shares of the bank’s stock after selling 59,449 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Bank of New York Mellon were worth $11,982,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Luken Investment Analytics LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $27,000. Balance Wealth Partners LLC bought a new position in Bank of New York Mellon during the 3rd quarter valued at $28,000. EFG International AG bought a new position in Bank of New York Mellon during the 2nd quarter valued at $29,000. Burnham & Co LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 173,304 shares of the company’s stock, valued at $25,616,064.24. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robin A. Vince sold 9,380 shares of the firm’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 sale, the chief executive officer owned 575,794 shares of the company’s stock, valued at approximately $85,113,869.08. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 60,560 shares of company stock valued at $9,007,119. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Down 0.2%

Bank of New York Mellon stock opened at $150.99 on Wednesday. Bank of New York Mellon Corporation has a 52 week low of $105.42 and a 52 week 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 firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.01 and a beta of 1.02. The company has a 50 day moving average price of $149.82 and a 200 day moving average price of $140.25.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The company 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 business’s quarterly revenue 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 EPS for the current year.

Wall Street Analyst Weigh In

BNY has been the subject of several research reports. Barclays raised their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Zacks Research downgraded shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. TD Cowen initiated coverage on shares of Bank of New York Mellon in a research report on Thursday, October 8th. They set a “hold” rating and a $160.00 price objective for the company. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Finally, Bank of America boosted their target price on shares of 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. One equities 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 stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $165.04.

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.