Friday, August 11, 2017 10:15 PM ET
Insider at Bank of New York Mellon (BK) Makes Significant Sale of Stock Slowing Buy Trend of Last Quarter
There was a significant insider sale of Bank of New York Mellon shares today, as disclosed in a filing with the SEC as — Edward P Garden, Director — disposed of 10,000,000 shares in the company having a market value of approximately $530,850,000 There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the purchase of 186,900 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 9,813,100 shares and have averaged 5,093,450 shares per transaction over this time period.
In relation to the peer group over the last 90 days, insider buy/sell trading at Bank of New York Mellon is above the 31-company peer group average. Investment Management & Fund Operators peer group saw 41 buy/sell trades during this period for an average of 1.3 transactions per company. The number of shares per buy/sell trade for Bank of New York Mellon insiders was also higher. Within the peer group there were 3,025,052 shares purchased and 4,445,145 shares sold with company insiders having sold 34,636 shares on average.
The data used in composing and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
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