Traders Purchase Large Volume of Bank of New York Mellon Put Options (NYSE:BNY)

Bank of New York Mellon Corporation (NYSE:BNY) saw some unusual options trading on Wednesday. Traders acquired 17,507 put options on the stock. This is an increase of approximately 349% compared to the average volume of 3,895 put options.

Insider Transactions at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Norges Bank bought a new position in Bank of New York Mellon in the 4th quarter worth $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $227,437,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BNY traded down $1.54 during trading hours on Wednesday, hitting $141.71. 1,231,067 shares of the stock were exchanged, compared to its average volume of 3,741,628. Bank of New York Mellon has a 12 month low of $87.41 and a 12 month high of $144.98. The stock has a 50-day simple moving average of $133.77 and a 200-day simple moving average of $123.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $97.27 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 EPS. Analysts anticipate that Bank of New York Mellon will post 8.78 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

BNY has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Barclays upped their price target on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Citigroup began coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

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.