Sapient Capital LLC Invests $752,000 in Bank of New York Mellon Corporation $BNY

Sapient Capital LLC purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 5,200 shares of the bank’s stock, valued at approximately $752,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BNY. Luken Investment Analytics LLC acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $27,000. EFG International AG bought a new position in Bank of New York Mellon in the second quarter valued at about $29,000. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $25,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of the stock in a transaction dated Thursday, August 27th. The stock was 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 of the company’s stock, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 0.4%

Shares of NYSE BNY opened at $165.05 on Friday. The firm has a 50 day moving average price of $157.46 and a two-hundred day moving average price of $139.49. The stock has a market cap of $111.99 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Barclays increased their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Erste Group Bank assumed coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating for the company. Finally, Bank of America increased their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.13.

About Bank of New York Mellon

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.