The Bank of New York Mellon’s senior EVP & General Counsel sells 54% of its shares

Some shareholders from the Bank of New York Mellon Corporation(NYSE: BK) is a bit concerned that Senior EVP & General Counsel, Jane McCarthy, recently sold $1.9 million worth of stock at a price of $76.31 per share. This reduced their share by a staggering 54%, which perhaps reflects a strong desire to reallocate capital.

You can find the latest Bank of New York Mellon dividend yield

The last 12 months of internal transactions at Bank of New York Mellon

Senior VP & Head of Global Wealth Catherine Keating made the biggest internal sale of the past 12 months. This same transaction included US$3.0 million worth of shares at a price of US$54.88 each. This means that an agent sold shares at a price slightly lower than the current price (US $76.67). If a customer sells below the current price, it shows that they think this low price is fair. This raises the question of what they think of the current (higher) valuation. While insider trading is sometimes discouraging, it is still a weak signal. This one sale represented 77% of Catherine Keating’s holding.

Bank of New York Mellon’s defenders have not bought any shares in the past year. Insider transactions (by company and individual) over the past year are shown in the chart below. If you click on the chart you will see all individual transactions including stock price, person and date!

NYSE: BK intraday trading book October 19, 2024

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Internal property of The Bank of New York Mellon

Looking at the total ownership of insiders in a company can tell you if they are well aligned with common shareholders. A high insider ratio often makes company management pay more attention to the interests of shareholders. Defendants Bank of New York Mellon appear to own 0.2% of the company, worth about US$95m. This level of internal ownership is good, but not particularly exceptional. However, it suggests a reasonable level of agreement.

What does this data say about Bank of New York Mellon’s defenders?

Insiders recently sold, but did not buy, shares of Bank of New York Mellon. And last year there was no purchase that would give us confidence. On the bright side, Bank of New York Mellon is making money and increasing its profits. The proportion of insiders is not particularly high, so this study makes us cautious about the company. We would be careful before we buy! In addition to knowing about ongoing internal affairs, it is beneficial to know about the risks that Bank of New York Mellon faces. Case in point: We have 1 warning sign for Bank of New York Mellon known that you should take note of.

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For the purposes of this article, insiders are those persons who report their transactions to the relevant regulatory authority. At this time we only consider open market transactions and private receipts of direct investments, but not derivative transactions or indirect investments.

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This article from Simply Wall St is general in nature. We provide opinions based solely on historical data and analyst forecasts, using an unbiased methodology. Our articles are not intended as financial advice. It is not a recommendation to buy or sell stocks and does not take into account your goals or financial situation. Our goal is to provide you with long-term analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company releases or qualitative products. Wall St simply has no position in any of the stocks mentioned.