6,981 Shares in Bank of New York Mellon Corporation $BNY Bought by Tranquilli Financial Advisor LLC

Key Points

• Tranquilli Financial Advisor LLC initiated a position in Bank of New York Mellon by purchasing 6,981 shares worth approximately $1.01 million. Institutional investors collectively own 85.31% of the company.
• BNY insiders recently sold shares, including CFO Dermot McDonogh’s sale of 31,800 shares for roughly $4.94 million and VP Jose Minaya’s sale of 3,520 shares for about $572,000.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157.13. The company recently exceeded quarterly estimates, reporting $2.46 in EPS and $5.70 billion in revenue.

Tranquilli Financial Advisor LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,981 shares of the bank's stock, valued at approximately $1,010,000.

Other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $22,882,000. Firestone Capital Management bought a new position in Bank of New York Mellon during the 2nd quarter worth approximately $783,000. KFA Private Wealth Group LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $283,000. Laidlaw Wealth Management LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $562,000. Finally, Secure Asset Management LLC bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $746,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares of the company's stock, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BNY. Argus increased their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Citigroup upped their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Barclays increased their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Trading Up 1.0%

NYSE BNY opened at $162.09 on Thursday. The stock has a market cap of $109.98 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The stock has a 50 day simple moving average of $156.65 and a two-hundred day simple moving average 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.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 earnings per share. On average, analysts forecast that Bank of New York Mellon Corporation will post 9.26 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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