The Bank of New York Mellon Co. (NYSE:BK) is Levin Capital Strategies L.P.’s 8th Largest Position

Levin Capital Strategies L.P. lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 436,873 shares of the bank’s stock after selling 15,538 shares during the period. Bank of New York Mellon comprises about 2.7% of Levin Capital Strategies L.P.’s holdings, making the stock its 8th largest position. Levin Capital Strategies L.P.’s holdings in Bank of New York Mellon were worth $26,164,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI grew its position in shares of Bank of New York Mellon by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after buying an additional 165 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of Bank of New York Mellon by 3.8% during the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock valued at $281,000 after purchasing an additional 171 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Bank of New York Mellon by 0.7% during 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 during the last quarter. 1858 Wealth Management LLC boosted its position in shares of Bank of New York Mellon by 4.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after purchasing an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after buying an additional 189 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 2.0 %

Bank of New York Mellon stock opened at $67.72 on Tuesday. The business has a 50-day simple moving average of $64.35 and a two-hundred day simple moving average of $59.81. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $68.60. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market cap of $49.97 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.14 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Analysts predict that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a $0.47 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.78%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup downgraded shares of 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 research report on Monday, July 15th. Evercore ISI upped 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 research report on Monday, July 15th. Finally, Morgan Stanley increased their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Company 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.