Insider Selling: Bank of New York Mellon (NYSE:BNY) CEO Sells 40,620 Shares of Company Stock

Bank of New York Mellon Corporation (NYSE:BNY) CEO Robin Vince sold 40,620 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the transaction, the chief executive officer directly owned 585,174 shares of the company’s stock, valued at approximately $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY traded up $0.98 during mid-day trading on Wednesday, reaching $148.56. The company had a trading volume of 3,002,215 shares, compared to its average volume of 3,699,322. The company’s 50-day moving average price is $152.30 and its 200-day moving average price is $138.85. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The firm has a market cap of $100.80 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.97 and a beta of 1.06. 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 issued its 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 firm had revenue of $5.68 billion during 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% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Argus upped 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. TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target on the stock. Bank of America upped their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Finally, Erste Group Bank began coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.62.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parcion Private Wealth LLC increased its stake in Bank of New York Mellon by 14.1% in the third quarter. Parcion Private Wealth LLC now owns 3,910 shares of the bank’s stock worth $566,000 after purchasing an additional 483 shares during the period. Soltis Investment Advisors LLC grew its holdings in Bank of New York Mellon by 113.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 6,658 shares of the bank’s stock worth $963,000 after acquiring an additional 3,539 shares in the last quarter. Choreo LLC raised its position in shares of Bank of New York Mellon by 5.9% in the 3rd quarter. Choreo LLC now owns 50,138 shares of the bank’s stock worth $7,252,000 after acquiring an additional 2,804 shares in the last quarter. Interchange Capital Partners LLC lifted its position in Bank of New York Mellon by 13.0% during the third quarter. Interchange Capital Partners LLC now owns 3,578 shares of the bank’s stock valued at $517,000 after acquiring an additional 411 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Bank of New York Mellon by 7.3% in the 3rd quarter. D.A. Davidson & CO. now owns 10,703 shares of the bank’s stock worth $1,548,000 after purchasing an additional 730 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

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.