Insider Selling: Bank of New York Mellon (NYSE:BNY) VP Sells $572,492.80 in Stock

Bank of New York Mellon Corporation (NYSE:BNY) VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Bank of New York Mellon Trading Up 1.0%

Shares of BNY opened at $162.09 on Thursday. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The stock has a 50-day moving average price of $156.65 and a 200 day moving average price of $138.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $109.98 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.21 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on BNY. Truist Financial increased their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Citigroup boosted their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently made changes to their positions in the stock. Luken Investment Analytics LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $27,000. EFG International AG bought a new position in shares of Bank of New York Mellon during the second quarter worth about $29,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $29,000. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $25,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. Institutional investors own 85.31% of the company’s stock.

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.