Bank of New York Mellon Corporation $BNY Stock Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its position in Bank of New York Mellon Corporation (NYSE:BNY) by 41.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,847 shares of the bank’s stock after selling 59,449 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Bank of New York Mellon were worth $11,982,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Luken Investment Analytics LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $27,000. Balance Wealth Partners LLC acquired a new position in Bank of New York Mellon in the third quarter worth approximately $28,000. Burnham & Co LLC acquired a new position in Bank of New York Mellon in the second quarter worth approximately $29,000. EFG International AG bought 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 bought a new position in Bank of New York Mellon during the second quarter valued at approximately $32,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BNY has been the subject of a number of analyst reports. Argus lifted their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Barclays increased their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. 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. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.04.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $150.99 on Wednesday. The firm has a fifty day simple moving average of $149.82 and a 200-day simple moving average of $140.25. 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 Corporation has a 1-year low of $105.42 and a 1-year high of $165.84. The stock has a market capitalization of $101.60 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.01 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The business 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 company’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares in the company, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robin Vince sold 9,380 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total value of $1,386,551.60. Following the transaction, the chief executive officer directly owned 575,794 shares of the company’s stock, valued at $85,113,869.08. This represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 60,560 shares of company stock worth $9,007,119. 0.17% of the stock is currently owned by company insiders.

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.