The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 62.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 455,258 shares of the bank’s stock after selling 768,924 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Bank of New York Mellon worth $34,977,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BK. Principal Financial Group Inc. boosted its stake in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after buying an additional 14,916 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Bank of New York Mellon by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 90,258 shares of the bank’s stock worth $6,486,000 after purchasing an additional 837 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in Bank of New York Mellon by 27.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,927 shares of the bank’s stock worth $225,000 after purchasing an additional 624 shares in the last quarter. Czech National Bank boosted its position in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in Bank of New York Mellon during the fourth quarter worth approximately $216,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was 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 of the company’s stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 over the last quarter. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

NYSE:BK opened at $85.90 on Monday. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $61.46 billion, a PE ratio of 14.78, a P/E/G ratio of 0.97 and a beta of 1.05. The stock has a 50 day moving average price of $80.67 and a 200 day moving average price of $80.98.

Bank of New York Mellon (NYSE:BK) last posted 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. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BK shares. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their target price 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. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.31.

About Bank of New York Mellon

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.