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

Jacobs Levy Equity Management Inc. lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,224,182 shares of the bank’s stock after purchasing an additional 46,481 shares during the period. Jacobs Levy Equity Management Inc. owned 0.17% of Bank of New York Mellon worth $87,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its position in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after acquiring an additional 8,512,404 shares during the period. Marshall Wace LLP increased its holdings in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after buying an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after buying an additional 1,020,906 shares during the last quarter. Bank of Montreal Can grew its holdings in Bank of New York Mellon by 83.7% during the 3rd quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank’s stock valued at $94,913,000 after purchasing an additional 603,191 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock valued at $72,835,000 after purchasing an additional 574,319 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BK opened at $81.11 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 1 year low of $47.48 and a 1 year high of $82.72. The stock has a market cap of $58.97 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The stock’s 50-day moving average price is $76.07 and its two-hundred day moving average price is $67.59.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.32%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Analyst Ratings Changes

A number of research analysts have issued reports on BK shares. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Citigroup increased their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley increased their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.77.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.