Brandywine Global Investment Management LLC Has $50.65 Million Holdings in Bank of New York Mellon Corp (BK)

Brandywine Global Investment Management LLC lessened its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 16.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 940,451 shares of the bank’s stock after selling 189,698 shares during the period. Brandywine Global Investment Management LLC’s holdings in Bank of New York Mellon were worth $50,653,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BK. Invictus RG bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $102,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $120,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $124,000. Horan Capital Advisors LLC. bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $139,000. Finally, Taylor Hoffman Wealth Management bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $144,000. Institutional investors own 83.07% of the company’s stock.

How to Become a New Pot Stock Millionaire

A number of equities research analysts have recently issued reports on the company. Vining Sparks reaffirmed a “hold” rating and set a $60.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Morgan Stanley boosted their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Bank of America raised Bank of New York Mellon from an “underperform” rating to a “neutral” rating and set a $52.00 target price on the stock in a research report on Wednesday. Barclays reaffirmed a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Finally, Deutsche Bank boosted their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $57.97.

In related news, insider Bridget E. Engle sold 38,928 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total transaction of $2,204,103.36. Following the transaction, the insider now directly owns 68,046 shares of the company’s stock, valued at $3,852,764.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Bank of New York Mellon Corp (NYSE BK) opened at $57.23 on Friday. The firm has a market capitalization of $56,232.92, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.78 and a beta of 1.16. Bank of New York Mellon Corp has a 52-week low of $45.12 and a 52-week high of $58.99. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. Bank of New York Mellon’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. equities analysts predict that Bank of New York Mellon Corp will post 4.04 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s payout ratio is 25.74%.

TRADEMARK VIOLATION NOTICE: This story was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://sportsperspectives.com/2018/03/10/brandywine-global-investment-management-llc-has-50-65-million-holdings-in-bank-of-new-york-mellon-corp-bk.html.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply