Aberdeen Group plc Sells 40,945 Shares of Bank of New York Mellon Corporation $BNY

Aberdeen Group plc decreased its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 6.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 551,845 shares of the bank’s stock after selling 40,945 shares during the quarter. Aberdeen Group plc owned 0.08% of Bank of New York Mellon worth $79,813,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BNY. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the second quarter valued at about $8,321,111,000. Bank of America Corp DE acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $1,214,193,000. Wellington Management Group LLP purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $1,175,576,000. Finally, Amundi purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $985,533,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total transaction of $520,291.20. Following the transaction, the vice president owned 173,304 shares of the company’s stock, valued at approximately $25,616,064.24. This represents a 1.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robin Vince sold 9,380 shares of the stock in a transaction dated 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 directly owned 575,794 shares in the company, valued at approximately $85,113,869.08. This represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 60,560 shares of company stock valued at $9,007,119. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 0.2%

Shares of NYSE BNY traded up $0.31 during trading hours 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 firm’s 50-day moving average price is $149.26 and its two-hundred day moving average price is $140.76. 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 market capitalization of $103.02 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The business had revenue of $5.68 billion for the quarter. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts anticipate that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BNY shares. Argus boosted their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. TD Cowen began coverage on shares of Bank of New York Mellon in a research note on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. Zacks Research cut shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, New Street Research set a $182.00 target price on Bank of New York Mellon in a research report on Friday, October 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $165.04.

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.