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

Virtue Capital Management LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,099 shares of the bank’s stock, valued at approximately $593,000.

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

Insiders Place Their Bets

In other news, CEO Robin A. Vince sold 40,620 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the sale, the chief executive officer directly owned 585,174 shares in the company, valued at approximately $86,494,568.94. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 27th. The shares were 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 represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 60,560 shares of company stock worth $9,007,119. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Up 0.6%

Shares of BNY opened at $147.97 on Tuesday. The company has a market capitalization of $100.40 billion, a P/E ratio of 16.35, a PEG ratio of 0.99 and a beta of 1.06. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The business’s 50 day simple moving average is $151.36 and its 200-day simple moving average is $139.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating 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 firm had revenue of $5.68 billion during the quarter. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BNY shares. Weiss Ratings downgraded 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. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the stock an “overweight” rating in a research report on Friday. Barclays increased their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, TD Cowen initiated 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.04.

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.