148,196 Bank of New York Mellon Corporation $BNY Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its BNY stake by 13.2%, buying 148,196 shares in the third quarter to hold 1,266,864 shares, worth about $183.5 million. Institutional investors own 85.31% of the company.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $165.04; ratings include one Strong Buy, seven Buys and six Holds.
• BNY reported quarterly EPS of $2.37, beating the $2.26 consensus, while revenue rose 11.7% year over year to $5.68 billion. Insiders sold 60,560 shares worth about $9.0 million over the past 90 days.

Russell Investments Group Ltd. increased its stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,266,864 shares of the bank's stock after acquiring an additional 148,196 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Bank of New York Mellon worth $183,517,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Luken Investment Analytics LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at about $27,000. Balance Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth about $28,000. EFG International AG purchased a new stake in Bank of New York Mellon in the second quarter worth approximately $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon during the second quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in Bank of New York Mellon during the second quarter valued at approximately $32,000. Institutional investors own 85.31% of the company's stock.

Analysts Set New Price Targets

BNY has been the subject of a number of recent research reports. New Street Research set a $182.00 price objective on shares of Bank of New York Mellon in a report on Friday, October 16th. 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 research note on Thursday, July 16th. Zacks Research lowered shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Argus lifted their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, Truist Financial lowered their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target of $165.04.

Bank of New York Mellon Price Performance

BNY opened at $152.76 on Friday. The stock's 50 day simple moving average is $149.48 and its 200 day simple moving average is $140.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 1 year low of $105.42 and a 1 year high of $165.84. The firm has a market cap of $102.79 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.02 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.68 billion for the quarter. The firm's quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares of the company's stock, valued at $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robin Vince sold 40,620 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the sale, the chief executive officer owned 585,174 shares of the company's stock, valued at $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,560 shares of company stock worth $9,007,119 in the last 90 days. Company insiders own 0.17% of the company's stock.

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.

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