Bank of New York Mellon Corporation $BNY Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC decreased its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 31.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,735 shares of the bank’s stock after selling 4,080 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Bank of New York Mellon were worth $1,263,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Oakworth Capital Inc. boosted its position in Bank of New York Mellon by 5.3% during the third quarter. Oakworth Capital Inc. now owns 1,360 shares of the bank’s stock worth $197,000 after purchasing an additional 68 shares during the period. McGlone Suttner Wealth Management Inc. grew its holdings in Bank of New York Mellon by 0.8% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank’s stock valued at $1,457,000 after purchasing an additional 77 shares during the last quarter. Cornerstone Financial Management LLC raised its position in shares of Bank of New York Mellon by 11.4% in the second quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock valued at $113,000 after purchasing an additional 80 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Bank of New York Mellon by 49.5% in the third quarter. Physician Wealth Advisors Inc. now owns 272 shares of the bank’s stock valued at $39,000 after purchasing an additional 90 shares during the period. Finally, Riversedge Advisors LLC raised its position in shares of Bank of New York Mellon by 3.1% in the third quarter. Riversedge Advisors LLC now owns 3,035 shares of the bank’s stock valued at $439,000 after purchasing an additional 92 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $147.92 on Monday. The company has a market cap of $99.54 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.98 and a beta of 1.02. The business has a 50 day moving average price of $150.26 and a 200 day moving average price of $139.94. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate 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 for the quarter. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Research analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Argus boosted their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Bank of America raised their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Truist Financial dropped their target price 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. Zacks Research lowered shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.04.

Insider Activity at Bank of New York Mellon

In related news, CEO Robin A. Vince sold 9,380 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the transaction, the chief executive officer owned 575,794 shares of the company’s stock, valued at approximately $85,113,869.08. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total transaction of $520,291.20. Following the transaction, the vice president owned 173,304 shares of the company’s stock, valued at approximately $25,616,064.24. The trade was a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,560 shares of company stock valued at $9,007,119 over the last three months. 0.17% of the stock is owned by company insiders.

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.