Sigma Planning Corp Takes Position in Bank of New York Mellon Corporation $BNY

Sigma Planning Corp bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,894 shares of the bank’s stock, valued at approximately $852,000.

Several other large investors have also made changes to their positions in BNY. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth about $220,000. Sivia Capital Partners LLC lifted its position in Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the period. Jump Financial LLC acquired a new position in Bank of New York Mellon during the 2nd quarter valued at about $2,482,000. Treasurer of the State of North Carolina boosted its stake in shares of Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in shares of Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. This represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $160.27 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $108.74 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The stock has a 50-day moving average of $156.29 and a 200-day moving average of $138.65. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 EPS. As a group, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Wall Street Analyst Weigh In

BNY has been the subject of a number of recent research reports. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Citigroup raised their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Barclays lifted their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. 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, 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.