Bank of New York Mellon Corporation $BNY Stock Sold by Candriam S.C.A.

Candriam S.C.A. reduced its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 433,582 shares of the bank’s stock after selling 71,045 shares during the quarter. Candriam S.C.A. owned approximately 0.06% of Bank of New York Mellon worth $62,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Luken Investment Analytics LLC bought a new stake in Bank of New York Mellon during the second quarter valued at about $27,000. Balance Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the third quarter worth about $28,000. EFG International AG bought a new position in shares of Bank of New York Mellon in the second quarter worth about $29,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth about $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $32,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BNY shares. Citigroup cut their price objective on 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. Bank of America raised 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 research note on Monday, July 20th. TD Cowen assumed coverage on shares of Bank of New York Mellon in a research note on Thursday, October 8th. They set a “hold” rating and a $160.00 target price on the stock. New Street Research set a $182.00 price target on shares of Bank of New York Mellon in a report on Friday, October 16th. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.04.

Bank of New York Mellon Trading Up 0.3%

Shares of BNY stock opened at $147.92 on Friday. 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 fifty day simple moving average of $150.26 and a two-hundred day simple moving average of $139.94. The firm has a market capitalization of $99.54 billion, a PE ratio of 16.34, a PEG ratio of 0.98 and a beta of 1.02. Bank of New York Mellon Corporation has a 52-week low of $105.42 and a 52-week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating the consensus estimate of $2.26 by $0.11. The business had revenue of $5.68 billion for 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 revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts predict that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robin Vince sold 9,380 shares of the 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 completion of the sale, the chief executive officer owned 575,794 shares in the company, valued at approximately $85,113,869.08. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 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 $147.81, for a total value of $520,291.20. Following the sale, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,560 shares of company stock valued at $9,007,119 in the last quarter. 0.17% of the stock is currently owned by company insiders.

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.