VCI Wealth Management LLC Acquires 30,878 Shares of Bank of New York Mellon Corporation $BNY

VCI Wealth Management LLC bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the third quarter, Holdings Channel reports. The institutional investor bought 30,878 shares of the bank’s stock, valued at approximately $4,466,000. Bank of New York Mellon comprises 1.1% of VCI Wealth Management LLC’s holdings, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Luken Investment Analytics LLC acquired a new stake in Bank of New York Mellon in the second quarter worth $27,000. Balance Wealth Partners LLC bought a new stake in Bank of New York Mellon in the third quarter valued at $28,000. Burnham & Co LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $29,000. EFG International AG acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $32,000. 85.31% of the stock is owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, CEO Robin A. Vince sold 40,620 shares of the 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 directly owned 585,174 shares of the company’s stock, valued at $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were 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 owned 173,304 shares in the company, valued at $25,616,064.24. This represents a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,560 shares of company stock valued at $9,007,119 in the last quarter. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial decreased their target price on Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Zacks Research downgraded Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. Finally, Royal Bank Of Canada increased their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. One investment 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 data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $165.04.

Bank of New York Mellon Stock Performance

BNY opened at $147.97 on Tuesday. Bank of New York Mellon Corporation has a 1-year low of $105.42 and a 1-year high of $165.84. The company has a market cap of $100.40 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.99 and a beta of 1.06. The company’s fifty day moving average price is $151.36 and its two-hundred day moving average price is $139.40. 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 (NYSE:BNY) last posted 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 net margin of 16.32% and a return on equity of 16.57%. The company had revenue of $5.68 billion during the quarter. Bank of New York Mellon’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal 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.