205,981 Bank of New York Mellon Corporation $BNY Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group cut its BNY holdings by 80.7%, selling 205,981 shares in the third quarter; it retained 49,218 shares worth about $7.1 million.
• BNY reported quarterly EPS of $2.37, beating the $2.26 consensus estimate, while revenue rose 11.7% year over year to $5.68 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $165.04.

Jefferies Financial Group Inc. lowered its holdings in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 80.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,218 shares of the bank's stock after selling 205,981 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Bank of New York Mellon were worth $7,118,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Luken Investment Analytics LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $27,000. Balance Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $28,000. Burnham & Co LLC purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $29,000. EFG International AG purchased 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 purchased 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.

Bank of New York Mellon Stock Up 0.0%

NYSE:BNY opened at $152.76 on Friday. Bank of New York Mellon Corporation has a fifty-two week low of $105.42 and a fifty-two week high of $165.84. The stock has a market capitalization of $102.79 billion, a P/E ratio of 16.67, 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. The company's 50-day simple moving average is $149.48 and its 200-day simple moving average is $140.59.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.11. The firm 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 firm's quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BNY. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $161.00 to $166.50 and gave the company an "overweight" rating in a research report on Friday, October 30th. Argus lifted their price target on 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. Zacks Research lowered Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Finally, Truist Financial reduced their price target on Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.04.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Vince sold 9,380 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the completion of the transaction, the chief executive officer directly owned 575,794 shares in the company, valued at $85,113,869.08. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,560 shares of company stock valued at $9,007,119. 0.17% of the stock is owned by insiders.

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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