Bank of New York Mellon Corporation $BNY Shares Newly Acquired by Virtue Capital Management LLC

Virtue Capital Management LLC bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,099 shares of the bank’s stock, valued at approximately $593,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth approximately $8,321,111,000. Bank of America Corp DE acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $1,214,193,000. Wellington Management Group LLP bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $1,175,576,000. Finally, Amundi bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $985,533,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BNY shares. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. 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 report on Thursday, July 16th. TD Cowen started coverage on shares of Bank of New York Mellon in a research report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target on the stock. Finally, Truist Financial dropped their price objective on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $165.04.

Insider Buying and Selling

In related news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction on 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 $25,616,064.24. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robin A. Vince sold 9,380 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the sale, the chief executive officer owned 575,794 shares in the company, valued at $85,113,869.08. This represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,560 shares of company stock worth $9,007,119. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 0.6%

Bank of New York Mellon stock opened at $147.97 on Tuesday. The business has a 50 day moving average price of $151.36 and a two-hundred day moving average price of $139.40. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock has a market cap of $100.40 billion, a price-to-earnings 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 12 month low of $105.42 and a 12 month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company had revenue of $5.68 billion during the quarter. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

Bank of New York Mellon 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.