TCW Group Inc. Has $72.79 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

TCW Group Inc. grew its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,012,870 shares of the bank's stock after acquiring an additional 83,207 shares during the quarter. TCW Group Inc. owned 0.14% of Bank of New York Mellon worth $72,785,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its holdings in shares of Bank of New York Mellon by 14.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,486 shares of the bank's stock worth $982,000 after purchasing an additional 1,691 shares in the last quarter. M&T Bank Corp boosted its stake in Bank of New York Mellon by 293.1% during the third quarter. M&T Bank Corp now owns 399,130 shares of the bank's stock worth $28,681,000 after buying an additional 297,603 shares in the last quarter. Continuum Advisory LLC increased its holdings in Bank of New York Mellon by 93.2% in the 3rd quarter. Continuum Advisory LLC now owns 2,349 shares of the bank's stock valued at $182,000 after buying an additional 1,133 shares during the period. Drucker Wealth 3.0 LLC raised its stake in shares of Bank of New York Mellon by 3.8% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 10,838 shares of the bank's stock valued at $779,000 after buying an additional 396 shares in the last quarter. Finally, SGL Investment Advisors Inc. bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $777,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. The Goldman Sachs Group boosted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Barclays upped their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $0.94 during midday trading on Wednesday, reaching $79.68. The company had a trading volume of 4,816,969 shares, compared to its average volume of 3,829,547. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $77.33 and a 200 day simple moving average of $68.67. The Bank of New York Mellon Co. has a 1-year low of $49.48 and a 1-year high of $82.72. The company has a market capitalization of $57.93 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.36%. Bank of New York Mellon's payout ratio is presently 40.87%.

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.