Brandywine Global Investment Management LLC Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Brandywine Global Investment Management LLC reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 435,267 shares of the bank’s stock after selling 33,513 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of Bank of New York Mellon worth $33,442,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its holdings in shares of Bank of New York Mellon by 0.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 146,627 shares of the bank’s stock valued at $11,430,000 after buying an additional 776 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in Bank of New York Mellon in the fourth quarter valued at $6,512,000. RWA Wealth Partners LLC boosted its stake in Bank of New York Mellon by 5.6% in the fourth quarter. RWA Wealth Partners LLC now owns 13,003 shares of the bank’s stock valued at $999,000 after acquiring an additional 685 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after purchasing an additional 1,125,493 shares in the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 24.4% in the 4th quarter. MV Capital Management Inc. now owns 3,254 shares of the bank’s stock valued at $250,000 after purchasing an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1 %

NYSE:BK opened at $82.67 on Friday. The company has a market capitalization of $59.35 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The stock has a fifty day simple moving average of $85.34 and a 200-day simple moving average of $79.61. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.27%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Morgan Stanley raised their price objective on shares of 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.