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

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 62.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 455,258 shares of the bank’s stock after selling 768,924 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Bank of New York Mellon were worth $34,977,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in Bank of New York Mellon by 21.7% during the 4th quarter. Janus Henderson Group PLC now owns 124,273 shares of the bank’s stock worth $9,552,000 after buying an additional 22,179 shares during the last quarter. Gotham Asset Management LLC increased its position in shares of Bank of New York Mellon by 1.3% during the fourth quarter. Gotham Asset Management LLC now owns 28,702 shares of the bank’s stock worth $2,205,000 after purchasing an additional 369 shares in the last quarter. Focus Partners Wealth increased its position in shares of Bank of New York Mellon by 38.3% during the fourth quarter. Focus Partners Wealth now owns 33,349 shares of the bank’s stock worth $2,600,000 after purchasing an additional 9,231 shares in the last quarter. Ellevest Inc. increased its position in shares of Bank of New York Mellon by 6.8% during the fourth quarter. Ellevest Inc. now owns 14,512 shares of the bank’s stock worth $1,115,000 after purchasing an additional 921 shares in the last quarter. Finally, Elyxium Wealth LLC increased its position in shares of Bank of New York Mellon by 9.6% during the fourth quarter. Elyxium Wealth LLC now owns 6,140 shares of the bank’s stock worth $472,000 after purchasing an additional 537 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Performance

NYSE BK opened at $85.90 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $80.67 and its two-hundred day moving average is $80.98. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.34. The stock has a market capitalization of $61.46 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BK shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.31.

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.