AEGON ASSET MANAGEMENT UK Plc Purchases 103,304 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• AEGON Asset Management UK acquired 103,304 BNY shares in the third quarter, valued at approximately $14.9 million.
• Institutional investors own 85.31% of BNY’s stock. Analysts rate the shares a consensus “Moderate Buy,” with an average price target of $165.04.
• BNY reported quarterly earnings of $2.37 per share, beating estimates of $2.26, while revenue rose 11.7% year over year to $5.68 billion.

AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,304 shares of the bank's stock, valued at approximately $14,941,000.

Several other institutional investors have also added to or reduced their stakes in BNY. BlackRock Inc. bought a new stake in Bank of New York Mellon during the second quarter valued at approximately $8,321,111,000. Bank of America Corp DE bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bank of New York Mellon in the second quarter worth $1,214,193,000. Wellington Management Group LLP bought a new stake in Bank of New York Mellon in the second quarter worth $1,175,576,000. Finally, Amundi bought a new stake in Bank of New York Mellon in the second quarter worth $985,533,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BNY shares. Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Bank of America raised their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Bank of New York Mellon in a report on Friday, October 16th. Wells Fargo & Company upped their price objective on shares of 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. Finally, Argus increased 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 report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $165.04.

Insider Activity

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the sale, the vice president owned 173,304 shares in the company, valued at approximately $25,616,064.24. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robin Vince sold 9,380 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 575,794 shares in the company, valued at approximately $85,113,869.08. This trade represents a 1.60% 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 in the last three months. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 2.3%

Shares of BNY opened at $151.12 on Tuesday. 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 capitalization of $101.69 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.02 and a beta of 1.02. The firm's 50-day moving average price is $150.04 and its 200-day moving average price is $140.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.11. The company had revenue of $5.68 billion during 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% on a year-over-year basis. Sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.