Bank of New York Mellon Corporation $BNY Stock Holdings Reduced by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 80.7% in the third quarter, Holdings Channel reports. The firm owned 49,218 shares of the bank’s stock after selling 205,981 shares during the period. Jefferies Financial Group Inc.’s holdings in Bank of New York Mellon were worth $7,118,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BNY shares. TD Cowen began coverage on Bank of New York Mellon in a research report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. New Street Research set a $182.00 target price on shares of Bank of New York Mellon in a report on Friday, October 16th. Bank of America boosted 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, Truist Financial lowered 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.04.

Bank of New York Mellon Price Performance

NYSE:BNY opened at $152.76 on Friday. 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 52 week low of $105.42 and a 52 week high of $165.84. The stock’s 50-day moving average price is $149.48 and its 200-day moving average price is $140.59. The stock has a market capitalization of $102.79 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 173,304 shares of the company’s stock, valued at $25,616,064.24. This represents a 1.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robin A. Vince sold 9,380 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 575,794 shares in the company, valued at $85,113,869.08. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 60,560 shares of company stock worth $9,007,119. 0.17% of the stock is owned by corporate 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.