Jacobs Levy Equity Management Inc. Purchases 76,303 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Jacobs Levy Equity Management Inc. grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 795,806 shares of the bank’s stock after acquiring an additional 76,303 shares during the period. Jacobs Levy Equity Management Inc. owned 0.11% of Bank of New York Mellon worth $45,854,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC increased its holdings 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 valued at $262,000 after purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. increased 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 purchasing an additional 183 shares in the last quarter. Greenleaf Trust increased 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 purchasing an additional 187 shares in the last quarter. Vivaldi Capital Management LP increased 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 purchasing an additional 192 shares in the last quarter. Finally, Certuity LLC increased 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 purchasing an additional 205 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.0 %

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

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

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Hanneke Smits sold 15,000 shares of the company’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 owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the transaction, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,858 shares of company stock worth $2,223,504. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Monday, July 15th. Bank of America lifted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.86.

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.