Jacobs Levy Equity Management Inc. Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

Jacobs Levy Equity Management Inc. raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 795,806 shares of the bank’s stock after purchasing an additional 76,303 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Bank of New York Mellon were worth $45,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quent Capital LLC raised its stake in shares of Bank of New York Mellon by 3.8% in the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after purchasing an additional 182 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 187 shares in the last quarter. Vivaldi Capital Management LP grew its holdings in shares of Bank of New York Mellon by 3.3% in the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after acquiring an additional 192 shares in the last quarter. Finally, Certuity LLC grew its holdings in shares of Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The disclosure for this sale can be found here. Insiders have sold 36,858 shares of company stock worth $2,223,504 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BK. Jefferies Financial Group increased their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI increased their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Barclays raised their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.66 on Tuesday, reaching $65.25. The company’s stock had a trading volume of 3,208,729 shares, compared to its average volume of 3,826,612. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90. The company has a market capitalization of $48.80 billion, a P/E ratio of 15.10, a PEG ratio of 1.16 and a beta of 1.09. The stock’s 50 day simple moving average is $60.50 and its 200-day simple moving average is $57.64.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter last year, the business posted $1.38 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.47 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.