642,266 Bank of New York Mellon Corporation $BNY Shares Sold by Danske Bank A S

Danske Bank A S lessened its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 39.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,000,136 shares of the bank's stock after selling 642,266 shares during the quarter. Danske Bank A S owned 0.15% of Bank of New York Mellon worth $144,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BNY. Ibex Wealth Advisors raised its position in shares of Bank of New York Mellon by 3.5% in the 3rd quarter. Ibex Wealth Advisors now owns 67,199 shares of the bank's stock valued at $9,719,000 after purchasing an additional 2,268 shares in the last quarter. Valmark Advisers Inc. grew its position in shares of Bank of New York Mellon by 6.3% during the third quarter. Valmark Advisers Inc. now owns 13,470 shares of the bank's stock worth $1,948,000 after buying an additional 802 shares in the last quarter. Money Concepts Capital Corp grew its position in shares of Bank of New York Mellon by 30.8% during the third quarter. Money Concepts Capital Corp now owns 5,490 shares of the bank's stock worth $794,000 after buying an additional 1,292 shares in the last quarter. Allworth Financial LP grew its position in shares of Bank of New York Mellon by 7.5% during the third quarter. Allworth Financial LP now owns 34,997 shares of the bank's stock worth $5,061,000 after buying an additional 2,436 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Bank of New York Mellon by 8.7% in the third quarter. Fisher Asset Management LLC now owns 9,238 shares of the bank's stock worth $1,336,000 after buying an additional 742 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Robin A. Vince sold 9,380 shares of Bank of New York Mellon 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 completion of the transaction, the chief executive officer directly owned 575,794 shares of the company's stock, valued at approximately $85,113,869.08. The trade was a 1.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total transaction of $520,291.20. Following the sale, the vice president directly 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 SEC filing for this sale provides additional information. Insiders have sold 60,560 shares of company stock worth $9,007,119 over the last three months. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, October 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. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Bank of New York Mellon in a research report on Friday, October 16th. Bank of America upped their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Bank of New York Mellon in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.04.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY traded up $0.31 during trading on Friday, reaching $153.10. The stock had a trading volume of 2,970,356 shares, compared to its average volume of 3,304,412. 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 stock has a market cap of $103.02 billion, a PE ratio of 16.92, a P/E/G ratio of 1.02 and a beta of 1.02. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. 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 (NYSE:BNY - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.11. The firm had revenue of $5.68 billion for the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The business's revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Bank of New York Mellon Company 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.

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