The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by TCW Group Inc.

TCW Group Inc. cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 991,671 shares of the bank’s stock after selling 21,199 shares during the period. TCW Group Inc.’s holdings in Bank of New York Mellon were worth $76,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fisher Funds Management LTD acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $10,390,000. Sigma Planning Corp raised its stake in shares of Bank of New York Mellon by 7.2% during the 4th quarter. Sigma Planning Corp now owns 5,862 shares of the bank’s stock worth $450,000 after buying an additional 392 shares during the period. Redmond Asset Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $744,000. Greystone Financial Group LLC raised its stake in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Greystone Financial Group LLC now owns 157,219 shares of the bank’s stock worth $12,079,000 after buying an additional 3,615 shares during the period. Finally, Transcend Capital Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $282,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BK shares. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup boosted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley boosted their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Up 0.1 %

Shares of NYSE:BK opened at $87.29 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $82.04 and a two-hundred day moving average of $76.36. The stock has a market cap of $63.46 billion, a P/E ratio of 15.02, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $4.66 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 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.