Cantor Fitzgerald Investment Advisors L.P. Acquires 9,320 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• Cantor Fitzgerald Investment Advisors increased its Bank of New York Mellon stake by 37.3% in the third quarter, adding 9,320 shares for a total holding valued at approximately $4.96 million.
• Institutional investors and hedge funds own 85.31% of BNY’s shares, with several other firms also raising their positions during the quarter.
• BNY reported quarterly EPS of $2.37, beating estimates by $0.11, while revenue rose 11.7% year over year to $5.68 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $164.62.

Cantor Fitzgerald Investment Advisors L.P. increased its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 37.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,280 shares of the bank's stock after purchasing an additional 9,320 shares during the period. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Bank of New York Mellon were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BNY. Magnus Financial Group LLC grew its holdings in Bank of New York Mellon by 5.2% during the third quarter. Magnus Financial Group LLC now owns 2,284 shares of the bank's stock worth $330,000 after acquiring an additional 112 shares during the period. Sowell Financial Services LLC raised its position in Bank of New York Mellon by 93.1% during the third quarter. Sowell Financial Services LLC now owns 17,534 shares of the bank's stock valued at $2,536,000 after acquiring an additional 8,454 shares in the last quarter. Axecap Investments LLC lifted its holdings in Bank of New York Mellon by 20.4% in the third quarter. Axecap Investments LLC now owns 39,702 shares of the bank's stock valued at $5,742,000 after acquiring an additional 6,731 shares during the period. QP Wealth Management LLC acquired a new position in Bank of New York Mellon in the third quarter valued at approximately $947,000. Finally, Physician Wealth Advisors Inc. boosted its position in Bank of New York Mellon by 49.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 272 shares of the bank's stock worth $39,000 after purchasing an additional 90 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $146.05 on Thursday. The stock has a market capitalization of $99.09 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.04 and a beta of 1.06. The stock has a 50-day moving average of $153.70 and a 200 day moving average of $147.07. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. Bank of New York Mellon Corporation has a twelve month low of $105.36 and a twelve month high of $165.84.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating the consensus estimate of $2.26 by $0.11. The company had revenue of $5.68 billion for the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. Bank of New York Mellon's quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BNY. Weiss Ratings cut shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Barclays boosted their target price on shares of 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. Zacks Research downgraded shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Truist Financial lowered their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $164.62.

Insider Buying and Selling

In related news, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction 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 sale, the vice president owned 176,824 shares of the company's stock, valued at approximately $26,309,642.96. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,840 shares of company stock worth $6,033,502 in the last quarter. Insiders own 0.17% of the company's stock.

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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