Bank of New York Mellon Corporation $BNY Stock: Rakuten Investment Management Inc. Increases Position

Rakuten Investment Management Inc. increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,784 shares of the bank’s stock after acquiring an additional 9,489 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Bank of New York Mellon were worth $17,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Luken Investment Analytics LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $27,000. Balance Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at approximately $28,000. EFG International AG purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. Burnham & Co LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, 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 transaction, the vice president owned 173,304 shares in the company, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robin A. Vince sold 9,380 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total value of $1,386,551.60. Following the completion of 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,560 shares of company stock valued at $9,007,119. Corporate insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $152.41 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average price of $150.87 and a 200 day moving average price of $139.67. The company has a market cap of $102.56 billion, a P/E ratio of 16.84, a PEG ratio of 0.99 and a beta of 1.02. Bank of New York Mellon Corporation has a 12 month low of $105.42 and a 12 month high of $165.84.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Bank of America increased their target price on 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. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a 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. Finally, TD Cowen began coverage on Bank of New York Mellon in a research report on Thursday, October 8th. They issued a “hold” rating and a $160.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.04.

Bank of New York Mellon 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.