9,489 Bank of New York Mellon Corporation $BNY Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 8.5% during the third quarter, Holdings Channel.com reports. The fund owned 121,784 shares of the bank’s stock after acquiring an additional 9,489 shares during the period. Rakuten Investment Management Inc.’s holdings in Bank of New York Mellon were worth $17,900,000 at the end of the most recent reporting period.

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

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 company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total transaction 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 represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robin A. Vince sold 40,620 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the transaction, the chief executive officer owned 585,174 shares in the company, valued at approximately $86,494,568.94. This trade represents a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,560 shares of company stock valued at $9,007,119 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $152.41 on Thursday. The business’s 50-day moving average price is $150.87 and its 200 day moving average price is $139.67. 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 market capitalization of $102.56 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02. 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) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 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 during the quarter. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Erste Group Bank started coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating for the company. Argus upped their price objective 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. Citigroup decreased their price objective on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.