Bank of New York Mellon Corporation $BNY Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Bank of New York Mellon Corporation (NYSE:BNY) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,663 shares of the bank’s stock after selling 18,780 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Bank of New York Mellon were worth $37,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 71 West Capital Partners boosted its position in shares of Bank of New York Mellon by 1.0% in the third quarter. 71 West Capital Partners now owns 6,863 shares of the bank’s stock worth $993,000 after purchasing an additional 67 shares during the period. Oakworth Capital Inc. raised its position in shares of Bank of New York Mellon by 5.3% during the 3rd quarter. Oakworth Capital Inc. now owns 1,360 shares of the bank’s stock valued at $197,000 after purchasing an additional 68 shares during the period. McGlone Suttner Wealth Management Inc. lifted its stake in shares of Bank of New York Mellon by 0.8% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank’s stock valued at $1,457,000 after buying an additional 77 shares in the last quarter. Cornerstone Financial Management LLC lifted its stake in shares of Bank of New York Mellon by 11.4% during the 2nd quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock valued at $113,000 after buying an additional 80 shares in the last quarter. Finally, Pinion Investment Advisors LLC lifted its stake in shares of Bank of New York Mellon by 2.3% during the 3rd quarter. Pinion Investment Advisors LLC now owns 3,667 shares of the bank’s stock valued at $530,000 after buying an additional 81 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, CEO Robin A. Vince sold 40,620 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 585,174 shares in the company, valued at approximately $86,494,568.94. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president directly 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 60,560 shares of company stock valued at $9,007,119. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY stock opened at $150.99 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The company’s fifty day moving average price is $149.82 and its 200-day moving average price is $140.25. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The company has a market capitalization of $101.60 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.02.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.11. The company 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%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BNY. Royal Bank Of Canada upped 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 report on Thursday, July 16th. Zacks Research downgraded Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. Barclays increased their target price on 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. Finally, Truist Financial cut their target price on Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, October 16th. One 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.