Bank of New York Mellon (NYSE:BNY) CEO Sells $1,386,551.60 in Stock

Key Points

• CEO Robin Vince sold 9,380 BNY shares at an average price of $147.82, generating $1.39 million; he retains 575,794 shares worth approximately $85.1 million.
• BNY shares rose 0.7% to $148.56, while the company reported quarterly EPS of $2.37, beating estimates by $0.11, and revenue of $5.68 billion, up 11.7% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $164.62; institutional investors own 85.31% of the stock.

Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) CEO Robin Vince sold 9,380 shares of the business's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total value of $1,386,551.60. Following the sale, the chief executive officer owned 575,794 shares of the company's stock, valued at approximately $85,113,869.08. This represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bank of New York Mellon Stock Up 0.7%

Shares of BNY traded up $0.98 during trading hours on Wednesday, reaching $148.56. The stock had a trading volume of 3,002,215 shares, compared to its average volume of 3,699,322. Bank of New York Mellon Corporation has a 12 month low of $105.42 and a 12 month high of $165.84. The firm has a 50-day simple moving average of $152.30 and a 200 day simple moving average of $138.85. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market capitalization 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.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.11. The business 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%. Bank of New York Mellon's quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently made changes to their positions in the business. Luken Investment Analytics LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $27,000. Balance Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon in the third quarter valued at $28,000. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the second quarter valued at $29,000. EFG International AG purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BNY shares. TD Cowen initiated coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They set a "hold" rating and a $160.00 price objective for the company. New Street Research set a $182.00 target price on shares of Bank of New York Mellon in a report on Friday, October 16th. Erste Group Bank assumed coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a "buy" rating for the company. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, Argus lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $164.62.

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.

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