Ethic Inc. Buys 8,375 Shares of Bank of New York Mellon Corporation $BNY

Ethic Inc. lifted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 215,465 shares of the bank’s stock after acquiring an additional 8,375 shares during the period. Ethic Inc.’s holdings in Bank of New York Mellon were worth $31,163,000 at the end of the most recent reporting period.

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

Bank of New York Mellon Stock Up 0.3%

BNY stock opened at $147.92 on Friday. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average is $150.26 and its 200-day moving average is $139.94. The firm has a market capitalization of $99.54 billion, a PE ratio of 16.34, a P/E/G ratio of 0.98 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last announced 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. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company had revenue of $5.68 billion for the quarter. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CEO Robin A. Vince sold 9,380 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction 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 directly owned 173,304 shares in the company, valued at $25,616,064.24. This represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Wells Fargo & Company raised their target price 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. Argus boosted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $161.00 to $166.50 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Finally, TD Cowen assumed coverage on Bank of New York Mellon in a research note on Thursday, October 8th. They set a “hold” rating and a $160.00 price target on the stock. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.