The Bank of New York Mellon Co. (NYSE:BK) is Levin Capital Strategies L.P.'s 5th Largest Position

Levin Capital Strategies L.P. lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 441,071 shares of the bank's stock after purchasing an additional 7,048 shares during the quarter. Bank of New York Mellon accounts for approximately 3.2% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 5th largest position. Levin Capital Strategies L.P. owned 0.06% of Bank of New York Mellon worth $33,887,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BK. Oppenheimer & Co. Inc. raised its position in Bank of New York Mellon by 0.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares during the period. Studio Investment Management LLC raised its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after buying an additional 134 shares during the period. Grove Bank & Trust raised its holdings in Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after buying an additional 135 shares during the period. Avidian Wealth Enterprises LLC lifted its position in Bank of New York Mellon by 2.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after buying an additional 137 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock worth $695,000 after buying an additional 139 shares during the period. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased 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 research note on Tuesday, December 3rd. Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Citigroup increased their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Finally, UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $88.71.

Bank of New York Mellon Stock Down 0.7 %

NYSE BK traded down $0.63 during trading on Monday, reaching $88.32. 4,374,784 shares of the company's stock traded hands, compared to its average volume of 4,214,189. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company's 50 day simple moving average is $83.24 and its two-hundred day simple moving average is $77.46.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

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.