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

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

A number of other institutional investors have also modified their holdings of the business. Linscomb Wealth Inc. grew its position in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock valued at $376,000 after buying an additional 80 shares during the last quarter. Ransom Advisory Ltd boosted its stake in Bank of New York Mellon by 1.3% during the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. boosted its stake in Bank of New York Mellon by 0.9% during the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 86 shares during the period. Essex Financial Services Inc. boosted its stake in Bank of New York Mellon by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after purchasing an additional 89 shares during the period. Finally, Vectors Research Management LLC boosted its stake in Bank of New York Mellon by 0.7% during the 4th quarter. Vectors Research Management LLC now owns 12,981 shares of the bank’s stock valued at $1,507,000 after purchasing an additional 94 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on BNY. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research note on Friday, April 17th. Barclays boosted their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Down 0.0%

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

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.31. The firm 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. On average, research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Bank of New York Mellon 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.