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

Key Points

• VCI Wealth Management LLC acquired 30,878 BNY shares worth approximately $4.47 million, making Bank of New York Mellon its 24th-largest holding and about 1.1% of its portfolio.
• Institutional investors and hedge funds own 85.31% of BNY, while insiders have sold 60,560 shares worth roughly $9.01 million over the past 90 days.
• BNY exceeded quarterly earnings expectations with $2.37 in EPS versus $2.26 forecast and revenue of $5.68 billion, up 11.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $165.04.

VCI Wealth Management LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 30,878 shares of the bank's stock, valued at approximately $4,466,000. Bank of New York Mellon comprises approximately 1.1% of VCI Wealth Management LLC's investment portfolio, making the stock its 24th biggest position.

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

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, CEO Robin A. Vince sold 40,620 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the completion of the sale, the chief executive officer directly owned 585,174 shares in the company, valued at approximately $86,494,568.94. This trade represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 27th. The stock was 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 directly owned 173,304 shares of the company's stock, valued at approximately $25,616,064.24. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,560 shares of company stock worth $9,007,119. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BNY. Zacks Research cut shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the stock an "overweight" rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Bank of America increased their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Truist Financial lowered 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $165.04.

Bank of New York Mellon Stock Up 0.6%

Shares of NYSE BNY opened at $147.97 on Tuesday. The company has a market capitalization of $100.40 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.99 and a beta of 1.06. Bank of New York Mellon Corporation has a 52-week low of $105.42 and a 52-week high of $165.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The company's 50 day moving average price is $151.36 and its 200-day moving average price is $139.40.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share 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 company's revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

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.

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