Danske Bank A S Sells 642,266 Shares of Bank of New York Mellon Corporation $BNY

Danske Bank A S lessened its position in Bank of New York Mellon Corporation (NYSE:BNY) by 39.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000,136 shares of the bank’s stock after selling 642,266 shares during the period. Danske Bank A S’s holdings in Bank of New York Mellon were worth $144,650,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth $1,128,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Bank of New York Mellon in the second quarter worth $13,234,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Bank of New York Mellon in the third quarter worth $3,688,000. Engineers Gate Manager LP bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,264,000. Finally, Corient Private Wealth LP acquired a new position in shares of Bank of New York Mellon during the second quarter valued at $48,434,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.31 during trading on Friday, hitting $153.10. The stock had a trading volume of 2,970,356 shares, compared to its average volume of 3,304,412. The business has a fifty day moving average of $149.26 and a two-hundred day moving average of $140.76. Bank of New York Mellon Corporation has a fifty-two week low of $105.42 and a fifty-two week high of $165.84. The firm has a market cap of $103.02 billion, a P/E ratio of 16.92, a PEG ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

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, topping analysts’ consensus estimates 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 quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BNY shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. Argus upped their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of New York Mellon in a research report on Wednesday. New Street Research set a $182.00 target price on shares of Bank of New York Mellon in a research note on Friday, October 16th. Finally, Citigroup lowered their target price on shares of Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. One 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.04.

Insider Transactions at Bank of New York Mellon

In other news, CEO Robin A. Vince sold 9,380 shares of Bank of New York Mellon 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 transaction, the chief executive officer owned 575,794 shares of the company’s stock, valued at $85,113,869.08. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the business’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 transaction of $520,291.20. Following the completion of the sale, the vice president owned 173,304 shares in the company, valued at $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,560 shares of company stock valued at $9,007,119 over the last three months. 0.17% of the stock is owned by corporate insiders.

About Bank of New York Mellon

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.