Titleist Asset Management LLC Raises Stock Holdings in Bank of New York Mellon Corporation $BNY

Key Points

• Titleist Asset Management increased its BNY stake by 958.3% in the third quarter, adding 24,485 shares to hold 27,040 shares valued at approximately $3.9 million.
• Institutional investors and hedge funds own 85.31% of BNY’s outstanding shares, while company insiders have sold 38,840 shares worth about $6.0 million over the past 90 days.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $162.38 versus the cited share price of $143.05; upcoming earnings remain a key catalyst.

Titleist Asset Management LLC increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 958.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,040 shares of the bank's stock after purchasing an additional 24,485 shares during the quarter. Titleist Asset Management LLC's holdings in Bank of New York Mellon were worth $3,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $1,128,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Bank of New York Mellon in the second quarter valued at $13,234,000. Engineers Gate Manager LP acquired a new stake in Bank of New York Mellon in the second quarter valued at $1,264,000. Corient Private Wealth LP bought a new position in Bank of New York Mellon during the 2nd quarter worth $48,434,000. Finally, HB Wealth Management LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth about $6,238,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon News Roundup

Here are the key news stories impacting Bank of New York Mellon this week:

• Positive Sentiment: Wall Street expects earnings growth in BNY’s upcoming report, and Zacks says the company has a favorable combination of factors that could support an earnings beat. This follows BNY’s recent history of exceeding quarterly EPS and revenue estimates, providing a near-term catalyst for the stock. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Barclays reaffirmed its “buy” rating, signaling continued confidence in BNY’s earnings outlook and valuation despite recent share-price weakness. Barclays Reaffirms Buy Rating
• Positive Sentiment: TD Cowen initiated coverage with a “hold” rating and a $160 price target, which is above the reference share price and suggests analysts see some recovery potential, although the neutral rating limits the strength of the bullish signal. TD Cowen Initiates Coverage
• Neutral Sentiment: BNY shares have been trading ahead of results, leaving the earnings release as the key event likely to determine whether investors view current valuation levels as justified. BNY Trades Ahead of Results
• Negative Sentiment: Some analysts have trimmed fair-value estimates or lowered price expectations, reflecting more cautious views on BNY’s valuation and limiting upside sentiment. Fair Value Trimmed Citigroup Lowers Price Expectations
• Negative Sentiment: Reports of recent share-price declines and pressure ahead of earnings indicate that some investors are reducing exposure or waiting for confirmation from the results. BNY Mellon Stock Falls

Insider Buying and Selling

In other news, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BNY has been the subject of several recent research reports. JPMorgan Chase & Co. increased 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. Wells Fargo & Company upped their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Bank of America increased their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Truist Financial lowered their price target on shares of Bank of New York Mellon from $178.00 to $172.00 and set a "buy" rating for the company in a report on Friday, September 25th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.38.

Bank of New York Mellon Stock Up 0.2%

Shares of Bank of New York Mellon stock traded up $0.33 during trading on Thursday, reaching $143.05. 1,668,788 shares of the company traded hands, compared to its average volume of 3,675,958. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 1-year low of $103.11 and a 1-year high of $165.84. The company has a 50 day moving average price of $156.87 and a 200-day moving average price of $145.31. The firm has a market capitalization of $97.06 billion, a PE ratio of 16.65, a P/E/G ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same period last year, the company posted $1.93 earnings per share. The business's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current fiscal year.

Bank of New York Mellon Company 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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