R Squared Ltd Acquires New Holdings in Bank of New York Mellon Corporation $BNY

R Squared Ltd bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the third quarter, Holdings Channel.com reports. The firm bought 4,594 shares of the bank’s stock, valued at approximately $664,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Luken Investment Analytics LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $27,000. Balance Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $28,000. Burnham & Co LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $29,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Bank of America increased their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. 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. Barclays boosted their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They set a “hold” rating and a $160.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.04.

Insider Transactions at Bank of New York Mellon

In other news, CEO Robin 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 transaction of $6,004,042.20. Following the completion of the transaction, the chief executive officer directly owned 585,174 shares in the company, valued at $86,494,568.94. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the completion of the transaction, the vice president directly 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. 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 over the last 90 days. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Up 0.0%

Shares of NYSE:BNY opened at $152.76 on Friday. The firm has a market cap of $102.79 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. Bank of New York Mellon Corporation has a 12-month low of $105.42 and a 12-month high of $165.84. The business has a fifty day simple moving average of $149.48 and a 200 day simple moving average of $140.59.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping 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 firm had revenue of $5.68 billion for the quarter. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share 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.