Bank of New York Mellon (NYSE:BNY) CEO Robin Vince Sells 9,380 Shares of Stock

Bank of New York Mellon Corporation (NYSE:BNY) CEO Robin Vince sold 9,380 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the sale, the chief executive officer directly owned 575,794 shares in the company, valued at approximately $85,113,869.08. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bank of New York Mellon Stock Performance

NYSE:BNY traded up $0.98 on Wednesday, reaching $148.56. 3,002,215 shares of the company’s stock were exchanged, compared to its average volume of 3,699,322. The firm has a market cap of $100.80 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a fifty day simple moving average of $152.30 and a 200-day simple moving average of $138.85. Bank of New York Mellon Corporation has a 52 week low of $105.42 and a 52 week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data 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. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Institutional Trading of Bank of New York Mellon

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Bank of New York Mellon in the 2nd quarter valued at $8,321,111,000. Bank of America Corp DE bought a new position in shares of Bank of New York Mellon in the second quarter worth $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,214,193,000. Wellington Management Group LLP purchased a new stake in shares of Bank of New York Mellon in the second quarter worth $1,175,576,000. Finally, Amundi purchased a new stake in shares of Bank of New York Mellon in the second quarter worth $985,533,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. Citigroup dropped their price objective on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Truist Financial cut 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 note on Friday, October 16th. Finally, Royal Bank Of Canada lifted their target price on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.62.

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.