TAM Capital Management Inc. Sells 40,003 Shares of The Bank of New York Mellon Co. (NYSE:BK)

TAM Capital Management Inc. decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 638,196 shares of the bank’s stock after selling 40,003 shares during the period. Bank of New York Mellon comprises about 17.8% of TAM Capital Management Inc.’s holdings, making the stock its 3rd largest holding. TAM Capital Management Inc. owned about 0.09% of Bank of New York Mellon worth $49,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of BK. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $1,660,000. Freestone Grove Partners LP bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $6,863,000. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $125,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Bank of New York Mellon by 11.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 15,457 shares of the bank’s stock worth $1,188,000 after acquiring an additional 1,590 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.4 %

BK opened at $80.35 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm’s fifty day moving average is $81.22 and its 200 day moving average is $80.59. The stock has a market cap of $57.69 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a fifty-two week low of $56.08 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the company posted $1.29 EPS. The business’s revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.34%. Bank of New York Mellon’s payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BK shares. UBS Group boosted 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 report on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised 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 research note on Monday, March 3rd. Finally, Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.31.

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.