Sapient Capital LLC grew its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 1,468.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,569 shares of the bank’s stock after buying an additional 76,369 shares during the quarter. Sapient Capital LLC’s holdings in Bank of New York Mellon were worth $11,797,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $25,000. Luken Investment Analytics LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $27,000. Burnham & Co LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $29,000. EFG International AG bought a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon in the second quarter worth $32,000. Institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Stock Up 0.7%
Shares of Bank of New York Mellon stock traded up $0.96 during midday trading on Thursday, hitting $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 debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $97.49 billion, a P/E ratio of 16.73, a P/E/G 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. The company has a 50 day moving average of $156.62 and a 200 day moving average of $145.51.
Insiders Place Their Bets
In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated 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 $26,309,642.96. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’s 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. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 38,840 shares of company stock valued at $6,033,502. 0.17% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BNY. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada boosted their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Argus increased their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, TD Cowen started coverage on Bank of New York Mellon in a report on Thursday. They set a “hold” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.38.
Read Our Latest Research Report on BNY
Key Stories 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 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.
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