Bank of New York Mellon (NYSE:BNY) CFO Dermot Mcdonogh Sells 31,800 Shares

Bank of New York Mellon Corporation (NYSE:BNY) CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bank of New York Mellon Stock Up 0.3%

Shares of NYSE BNY opened at $156.61 on Friday. Bank of New York Mellon Corporation has a one year low of $98.40 and a one year high of $163.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.75. The firm’s 50 day simple moving average is $148.30 and its two-hundred day simple moving average is $132.48. The stock has a market capitalization of $107.49 billion, a P/E ratio of 18.23, a PEG ratio of 1.11 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30. The firm 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 net margin of 15.52% and a return on equity of 16.00%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. As a group, analysts expect that Bank of New York Mellon Corporation will post 9.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $140.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Barclays raised their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.47.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Bank of New York Mellon by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Norges Bank bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $1,398,624,000. Invesco Ltd. boosted its holdings in shares of Bank of New York Mellon by 8.2% during the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after purchasing an additional 578,999 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the period. 85.31% of the stock is currently owned by institutional investors.

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.