Sienna Gestion Has $15.22 Million Stock Position in Bank of New York Mellon Corporation $BNY

Key Points

• Sienna Gestion increased its stake in Bank of New York Mellon by 7.3% in the fourth quarter, buying 8,942 additional shares and bringing its total holding to 130,838 shares worth about $15.2 million.
• Insiders have been selling stock, including VP Shannon Marie Hobbs and EVP J Kevin McCarthy, who together accounted for a notable portion of the 48,091 shares sold by insiders over the past 90 days.
• BNY reported strong quarterly results, beating earnings and revenue estimates with $2.25 EPS and $5.41 billion in revenue, while analysts currently rate the stock a “Moderate Buy” with an average price target of $138.08.

Sienna Gestion lifted its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,838 shares of the bank's stock after buying an additional 8,942 shares during the quarter. Bank of New York Mellon comprises approximately 0.9% of Sienna Gestion's holdings, making the stock its 24th largest position. Sienna Gestion's holdings in Bank of New York Mellon were worth $15,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Linscomb Wealth Inc. lifted its stake in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock worth $376,000 after buying an additional 80 shares during the last quarter. Ransom Advisory Ltd lifted its stake in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock worth $787,000 after buying an additional 85 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock worth $1,072,000 after buying an additional 86 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Bank of New York Mellon by 3.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock worth $326,000 after buying an additional 88 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its stake in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock worth $2,041,000 after buying an additional 89 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other 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 transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company's stock, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BNY. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Truist Financial upped their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a report on Friday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.08.

Bank of New York Mellon Trading Down 1.0%

Bank of New York Mellon stock opened at $142.48 on Tuesday. The business has a 50 day moving average price of $135.59 and a two-hundred day moving average price of $124.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $97.80 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.05 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 $146.45.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted 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 firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon's dividend payout ratio is currently 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.

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