Brandywine Global Investment Management LLC Sells 33,513 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Brandywine Global Investment Management LLC cut its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.06% of Bank of New York Mellon worth $33,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. State Street Corp lifted its holdings in Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after buying an additional 659,096 shares during the period. Norges Bank bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $1,150,462,000. Arrowstreet Capital Limited Partnership grew its stake in Bank of New York Mellon by 17.0% in 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 during the period. Amundi raised its holdings in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after purchasing an additional 359,942 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after buying an additional 3,142,869 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

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Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded down $2.97 during mid-day trading on Thursday, reaching $81.25. 1,862,735 shares of the company traded hands, compared to its average volume of 3,895,738. The company's 50 day moving average price is $85.33 and its 200-day moving average price is $79.94. The firm has a market cap of $58.34 billion, a PE ratio of 13.98, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the company posted $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 analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.31%. Bank of New York Mellon's dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday. Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.07.

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.