Bank of New York Mellon Corp Purchases 912,925 Shares of TAL Education Group (TAL)
Bank of New York Mellon Corp increased its position in shares of TAL Education Group (NYSE:TAL) by 924.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,011,645 shares of the company’s stock after buying an additional 912,925 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of TAL Education Group worth $34,101,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in TAL. Penserra Capital Management LLC acquired a new stake in TAL Education Group during the second quarter worth about $122,000. Nippon Life Insurance Co. boosted its holdings in TAL Education Group by 500.0% during the third quarter. Nippon Life Insurance Co. now owns 3,708 shares of the company’s stock valued at $125,000 after purchasing an additional 3,090 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in TAL Education Group during the second quarter valued at approximately $153,000. Tower Research Capital LLC TRC acquired a new stake in TAL Education Group during the second quarter valued at approximately $154,000. Finally, OLD National Bancorp IN acquired a new stake in TAL Education Group during the third quarter valued at approximately $206,000. 51.34% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised TAL Education Group from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Thursday, October 26th. Morgan Stanley assumed coverage on TAL Education Group in a report on Friday, August 25th. They set an “overweight” rating and a $37.00 price objective on the stock. ValuEngine downgraded TAL Education Group from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Bank of America reaffirmed a “buy” rating and set a $40.30 price objective (up from $29.10) on shares of TAL Education Group in a report on Monday, September 25th. Finally, Jefferies Group lifted their price objective on TAL Education Group to $35.00 and gave the company a “buy” rating in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $31.16.
TAL Education Group (NYSE:TAL) last announced its earnings results on Thursday, October 26th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $455.80 million during the quarter, compared to analyst estimates of $441.18 million. TAL Education Group had a return on equity of 18.17% and a net margin of 9.90%. TAL Education Group’s quarterly revenue was up 68.1% on a year-over-year basis. sell-side analysts anticipate that TAL Education Group will post 0.37 EPS for the current fiscal year.
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TAL Education Group Company Profile
TAL Education Group is a holding company for a group of companies engaged in provision of after-school tutoring programs for primary and secondary school students in the People’s Republic of China (the PRC). The Company is a K-12 after-school tutoring services provider in China. The Company’s Xueersi Peiyou small classes course consists of approximately four semesters, which include approximately two school semesters in Spring and Fall, and approximately two holiday semesters in summer and winter.
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