Bank of New York Mellon Corporation $BNY Position Boosted by Sapient Capital LLC

Sapient Capital LLC lifted its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 1,468.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 81,569 shares of the bank’s stock after purchasing an additional 76,369 shares during the quarter. Sapient Capital LLC’s holdings in Bank of New York Mellon were worth $11,797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $1,128,000. Northwestern Mutual Wealth Management Co. purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $13,234,000. Engineers Gate Manager LP purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $1,264,000. Corient Private Wealth LP purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $48,434,000. Finally, HB Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $6,238,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the sale, the vice president directly owned 176,824 shares in the company, valued at approximately $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 38,840 shares of company stock worth $6,033,502. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BNY shares. Citigroup dropped their target price on shares of Bank of New York Mellon from $172.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. TD Cowen initiated coverage on Bank of New York Mellon in a report on Thursday. They set a “hold” rating and a $160.00 price objective on the stock. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.38.

Key Headlines Impacting Bank of New York Mellon

Here are the key news stories impacting Bank of New York Mellon this week:

• Positive Sentiment: Wall Street expects year-over-year earnings growth in BNY’s upcoming report, and Zacks says the company has factors that could increase the likelihood of an earnings beat. Strong results or improved guidance could support the shares. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: TD Cowen initiated coverage with a “hold” rating and a $160 price target, implying meaningful upside from the reference price. Although the rating is neutral, the target suggests the firm sees valuation support. TD Cowen Initiates Coverage
• Positive Sentiment: Barclays reaffirmed its “buy” rating, maintaining a constructive view of BNY’s outlook and valuation. Barclays Reaffirms Buy Rating
• Neutral Sentiment: BNY is scheduled to report results next week. The earnings release will be important in determining whether elevated analyst earnings expectations are justified.
• Neutral Sentiment: Recent coverage indicates the stock has been trading ahead of results, while reported after-hours pricing in euros provides limited additional insight for U.S. investors. BNY Mellon Stock After-Hours
• Negative Sentiment: Some analysts have reduced their fair-value estimates or price targets as they recalibrate expectations, including Citigroup. These revisions may limit near-term upside and reflect valuation concerns despite higher projected third-quarter earnings. Fair Value Trim Citigroup Lowers Expectations

Bank of New York Mellon Trading Up 0.7%

BNY traded up $0.96 during trading on Thursday, reaching $143.68. The company had a trading volume of 3,447,250 shares, compared to its average volume of 3,685,915. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The business has a 50 day simple moving average of $156.62 and a 200-day simple moving average of $145.51. The stock has a market cap of $97.49 billion, a P/E ratio of 16.73, a PEG ratio of 1.12 and a beta of 1.06. Bank of New York Mellon Corporation has a 52 week low of $103.11 and a 52 week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 earnings per share. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.28 EPS for the current fiscal year.

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.