Sei Investments Co. Decreases Its Stake in The Bank of New York Mellon Co.

Sei Investments Co. has reported a reduction in its ownership of The Bank of New York Mellon Co. (NYSE:BK) stocks, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm sold 26,068 shares, resulting in a 2.3% decrease in its holdings during the second quarter. Following the sell-off, Sei Investments Co.'s stake in the bank stands at 1,097,614 shares, representing about 0.14% of the company's worth an estimated $48.86 million.

Recent Investor Movements

Other institutional investors have also been changing their positions in BK shares. Nemes Rush Group LLC initiated a new position during the second quarter, investing approximately $27,000, while Brown Brothers Harriman & Co. practically doubled its stake with an additional 609 shares in the first quarter, bringing its total to around $30,000 in value. Similarly, new stakes have been taken by Duncker Streett & Co. Inc., Glass Jacobson Investment Advisors llc, and Sunbelt Securities Inc., with varying values ranging from $33,000 to $36,000. Overall, hedge funds and other institutional investors own 81.29% of The Bank of New York Mellon's stock.

The Bank of New York Mellon's Market Performance

Bank of New York Mellon's stock has experienced fluctuations, with a recent opening price of $47.22. The stock's 50-day and 200-day moving averages remain around $43.53 and $43.68, respectively. The company's financial ratios demonstrate its solid liquidity and debt management, with a 12-month stock price range between $39.65 and $52.26. Bank of New York Mellon boasts a market capitalization of $36.32 billion, an attractive price-to-earnings ratio, and a stable dividend payout.

Dividends and Earnings

The bank's performance has been robust, reporting higher than expected quarterly earnings per share and surpassing revenue estimates. Moreover, the company's recently announced quarterly dividend of $0.42 per share highlights its commitment to shareholder returns. With a dividend yield of 3.56% and a conservative dividend payout ratio, the bank presents itself as an enticing option for income-focused investors.

Analyst Ratings and Price Targets

Bank of New York Mellon has received varied ratings from analysts, with one seller, five holds, and four buyers, indicating a wide spectrum of investment opinions. The average price target stands at $52.40, reflecting a cautious but optimistic outlook on the stock's future.

Sei, Investments, Mellon