Bank of New York Mellon Corporation $BNY Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 352.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,491 shares of the bank’s stock after purchasing an additional 88,420 shares during the period. Kestra Advisory Services LLC’s holdings in Bank of New York Mellon were worth $16,414,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $1,128,000. Northwestern Mutual Wealth Management Co. bought a new position in Bank of New York Mellon during the second quarter valued at approximately $13,234,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Bank of New York Mellon during the third quarter valued at approximately $3,688,000. Engineers Gate Manager LP bought a new position in Bank of New York Mellon during the second quarter valued at approximately $1,264,000. Finally, Corient Private Wealth LP purchased a new stake in Bank of New York Mellon in the second quarter worth approximately $48,434,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.1%

BNY opened at $147.92 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. Bank of New York Mellon Corporation has a 1-year low of $105.42 and a 1-year high of $165.84. The company 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. The firm’s 50 day simple moving average is $150.26 and its two-hundred day simple moving average is $139.94.

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. The business had revenue of $5.68 billion for the quarter. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The company’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, CEO Robin A. Vince sold 40,620 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the sale, the chief executive officer owned 585,174 shares in the company, valued at $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was 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 owned 173,304 shares of the company’s stock, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,560 shares of company stock worth $9,007,119 over the last quarter. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on BNY. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. TD Cowen assumed coverage on Bank of New York Mellon in a research note on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target on the stock. Argus lifted their price objective on 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. Finally, Barclays upped their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.