Bank of New York Mellon Corporation $BNY Stock Bought by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 19.9% during the third quarter, HoldingsChannel.com reports. The fund owned 107,983 shares of the bank’s stock after acquiring an additional 17,921 shares during the period. Bank of New York Mellon makes up approximately 2.1% of Kinsale Capital Group Inc.’s holdings, making the stock its 15th largest holding. Kinsale Capital Group Inc.’s holdings in Bank of New York Mellon were worth $15,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BNY. 71 West Capital Partners grew its position in shares of Bank of New York Mellon by 1.0% during the 3rd quarter. 71 West Capital Partners now owns 6,863 shares of the bank’s stock valued at $993,000 after purchasing an additional 67 shares in the last quarter. Pinion Investment Advisors LLC raised its position in shares of Bank of New York Mellon by 2.3% in the third quarter. Pinion Investment Advisors LLC now owns 3,667 shares of the bank’s stock worth $530,000 after buying an additional 81 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Bank of New York Mellon in the third quarter worth $14,941,000. AlphaCore Capital LLC boosted its stake in Bank of New York Mellon by 97.7% during the third quarter. AlphaCore Capital LLC now owns 11,766 shares of the bank’s stock valued at $1,702,000 after buying an additional 5,815 shares during the period. Finally, Joseph Group Capital Management boosted its stake in Bank of New York Mellon by 28.3% during the third quarter. Joseph Group Capital Management now owns 372 shares of the bank’s stock valued at $54,000 after buying an additional 82 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BNY shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bank of New York Mellon in a research report on Friday, October 16th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Argus lifted their price target 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. Truist Financial cut their price objective on Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a report on Friday, October 16th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. One investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.04.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $151.12 on Tuesday. Bank of New York Mellon Corporation has a 52-week low of $105.42 and a 52-week high of $165.84. The company has a fifty day moving average of $150.04 and a 200-day moving average of $140.09. The company has a market capitalization of $101.69 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) 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. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The business had revenue of $5.68 billion for the quarter. Bank of New York Mellon’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the firm’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 transaction, the vice president directly owned 173,304 shares of the company’s stock, valued at approximately $25,616,064.24. This trade represents a 1.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robin A. Vince sold 40,620 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 585,174 shares of the company’s stock, valued at $86,494,568.94. The trade was a 6.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,560 shares of company stock valued at $9,007,119 over the last quarter. Company insiders own 0.17% of the company’s stock.

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.