Sage Investment Advisers LLC Makes New $427,000 Investment in Bank of New York Mellon Corporation $BNY

Sage Investment Advisers LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,677 shares of the bank’s stock, valued at approximately $427,000.

Other institutional investors have also modified their holdings of the company. Rothschild Wealth LLC increased its stake in Bank of New York Mellon by 60.7% in the 4th quarter. Rothschild Wealth LLC now owns 4,105 shares of the bank’s stock valued at $477,000 after buying an additional 1,551 shares during the period. Waterloo Capital L.P. increased its stake in Bank of New York Mellon by 34.8% in the 4th quarter. Waterloo Capital L.P. now owns 3,098 shares of the bank’s stock valued at $360,000 after buying an additional 800 shares during the period. Grandfield & Dodd LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $208,000. Essex Financial Services Inc. increased its stake in Bank of New York Mellon by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after buying an additional 89 shares during the period. Finally, Founders Financial Securities LLC raised its holdings in Bank of New York Mellon by 2.6% during the fourth quarter. Founders Financial Securities LLC now owns 8,086 shares of the bank’s stock worth $939,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the transaction, the executive vice president directly owned 62,613 shares in the company, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last three months. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BNY has been the subject of several analyst reports. Evercore set a $136.00 price target on shares of Bank of New York Mellon in a report on Friday, April 17th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Barclays increased their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Stock Down 0.0%

BNY stock opened at $139.38 on Monday. The company’s 50 day simple moving average is $130.07 and its 200-day simple moving average is $121.55. The firm has a market capitalization of $95.67 billion, a PE ratio of 17.27, a P/E/G ratio of 1.02 and a beta of 1.07. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $141.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 earnings per share. Equities analysts expect that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

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.