Baldwin Wealth Partners LLC MA Purchases 119,266 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• Baldwin Wealth Partners increased its Bank of New York Mellon holdings by 704.8% in the third quarter, acquiring 119,266 shares for a total position of 136,188 shares valued at approximately $19.7 million.
• BNY reported quarterly EPS of $2.46, exceeding estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $162.38.
• Company insiders sold 38,840 shares worth about $6.0 million over the past 90 days, while institutional investors collectively own 85.31% of BNY’s outstanding stock.

Baldwin Wealth Partners LLC MA raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 704.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,188 shares of the bank's stock after acquiring an additional 119,266 shares during the quarter. Bank of New York Mellon comprises 1.3% of Baldwin Wealth Partners LLC MA's portfolio, making the stock its 20th largest position. Baldwin Wealth Partners LLC MA's holdings in Bank of New York Mellon were worth $19,697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BNY. Perpetual Ltd increased its stake in Bank of New York Mellon by 26.4% in the third quarter. Perpetual Ltd now owns 4,608 shares of the bank's stock valued at $666,000 after purchasing an additional 963 shares in the last quarter. HF Advisory Group LLC boosted its position in shares of Bank of New York Mellon by 76.1% during the third quarter. HF Advisory Group LLC now owns 8,969 shares of the bank's stock worth $1,297,000 after buying an additional 3,876 shares during the period. Gilpin Wealth Management LLC boosted its position in Bank of New York Mellon by 107.6% during the 3rd quarter. Gilpin Wealth Management LLC now owns 6,431 shares of the bank's stock worth $930,000 after acquiring an additional 3,333 shares during the last quarter. Bill Few Associates Inc. boosted its holdings in Bank of New York Mellon by 53.3% during the third quarter. Bill Few Associates Inc. now owns 9,497 shares of the bank's stock worth $1,374,000 after purchasing an additional 3,303 shares during the last quarter. Finally, Bullock Wealth Management Group grew its holdings in shares of Bank of New York Mellon by 54.4% in the 3rd quarter. Bullock Wealth Management Group now owns 4,592 shares of the bank's stock valued at $664,000 after acquiring an additional 1,618 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.0%

Shares of BNY stock opened at $142.78 on Tuesday. The firm has a market capitalization of $96.88 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.11 and a beta of 1.06. Bank of New York Mellon Corporation has a twelve month low of $103.11 and a twelve month high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $156.06 and its 200 day simple moving average is $145.87.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, sell-side analysts predict that Bank of New York Mellon Corporation will post 9.27 EPS for the current fiscal year.

Insider Activity

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $148.79, for a total value of $523,740.80. Following the completion of the transaction, the vice president directly owned 176,824 shares of the company's stock, valued at $26,309,642.96. This represents a 1.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 38,840 shares of company stock worth $6,033,502. Company insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective 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. Bank of America raised their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, October 2nd. Citigroup lowered their price objective on shares of Bank of New York Mellon from $172.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Finally, Argus lifted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.38.

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.

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