63,787 Bank of New York Mellon Corporation $BNY Shares Sold by M&G PLC

M&G PLC lowered its stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 13.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,470 shares of the bank’s stock after selling 63,787 shares during the period. M&G PLC’s holdings in Bank of New York Mellon were worth $60,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $8,321,111,000. Bank of America Corp DE bought a new stake in Bank of New York Mellon during the 2nd 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 during the 2nd quarter worth $1,214,193,000. Wellington Management Group LLP acquired a new position in Bank of New York Mellon in the 2nd quarter worth about $1,175,576,000. Finally, Amundi acquired a new position in Bank of New York Mellon in the 2nd quarter worth about $985,533,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BNY shares. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Bank of New York Mellon in a research 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 stock an “overweight” rating in a report on Friday, October 30th. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating for the company. Zacks Research lowered shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.04.

Read Our Latest Stock Report on BNY

Insider Activity

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon 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 transaction, the vice president directly owned 173,304 shares of the company’s stock, valued at $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robin A. Vince sold 9,380 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total value of $1,386,551.60. Following the completion of the sale, the chief executive officer owned 575,794 shares in the company, valued at $85,113,869.08. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 60,560 shares of company stock valued at $9,007,119. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $151.12 on Tuesday. The stock has a market cap of $101.69 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.02 and a beta of 1.02. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The company’s fifty day moving average is $150.04 and its 200 day moving average is $140.09. 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 (NYSE:BNY – Get Free Report) last announced its earnings results on Thursday, October 15th. The bank reported $2.37 EPS 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 firm had revenue of $5.68 billion for the quarter. The firm’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

About Bank of New York Mellon

(Free Report)

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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