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

Jacobs Levy Equity Management Inc. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,224,182 shares of the bank’s stock after acquiring an additional 46,481 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Bank of New York Mellon were worth $87,970,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BK. HighTower Advisors LLC raised its stake in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after buying an additional 184,560 shares in the last quarter. Hilltop Holdings Inc. boosted its holdings in Bank of New York Mellon by 57.8% in the third quarter. Hilltop Holdings Inc. now owns 8,958 shares of the bank’s stock valued at $644,000 after purchasing an additional 3,282 shares during the last quarter. Holocene Advisors LP purchased a new stake in Bank of New York Mellon in the third quarter valued at $8,801,000. Centiva Capital LP raised its position in shares of Bank of New York Mellon by 35.7% in the third quarter. Centiva Capital LP now owns 59,669 shares of the bank’s stock worth $4,288,000 after acquiring an additional 15,696 shares during the period. Finally, Cinctive Capital Management LP acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $1,786,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BK shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group upped their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.77.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.9 %

Shares of BK stock opened at $81.11 on Tuesday. The firm has a market capitalization 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 company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $76.07 and its 200 day simple moving average is $67.59. The Bank of New York Mellon Co. has a 1 year low of $47.48 and a 1 year high of $82.72.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.32%. Bank of New York Mellon’s payout ratio is 40.87%.

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.