TCW Group Inc. Buys 102,513 Shares of The Bank of New York Mellon Co. (NYSE:BK)

TCW Group Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 461,103 shares of the bank’s stock after purchasing an additional 102,513 shares during the period. TCW Group Inc. owned 0.06% of Bank of New York Mellon worth $24,002,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $28,000. Hartford Financial Management Inc. lifted its stake in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the period. Blue Trust Inc. lifted its stake in shares of Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the period. Addison Advisors LLC lifted its stake in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in Bank of New York Mellon in the third quarter valued at about $38,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several analyst reports. Jefferies Financial Group increased their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America increased their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Stock Performance

Shares of BK traded up $0.63 during mid-day trading on Friday, reaching $58.96. The company’s stock had a trading volume of 601,189 shares, compared to its average volume of 3,713,987. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $59.70. The stock has a market cap of $44.09 billion, a P/E ratio of 14.23, a PEG ratio of 1.21 and a beta of 1.11. The business has a 50-day simple moving average of $56.98 and a two-hundred day simple moving average of $53.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the firm posted $1.13 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.85%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 in the last three months. Corporate insiders own 0.14% of the company’s stock.

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.