BNY $BK Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its position in shares of BNY (NYSE:BK) by 81.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,569 shares of the bank’s stock after selling 178,640 shares during the quarter. AMF Tjanstepension AB’s holdings in BNY were worth $4,826,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in BNY by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in BNY by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the period. Ameriprise Financial Inc. lifted its position in BNY by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in BNY by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the period. Finally, First Trust Advisors LP lifted its position in BNY by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after acquiring an additional 66,010 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of several analyst reports. Morgan Stanley boosted their price objective on BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Citigroup began coverage on shares of BNY in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Truist Financial raised their price target on shares of BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a research report on Friday, April 17th. Finally, Barclays raised their price target on shares of BNY from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, BNY currently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Insiders Place Their Bets

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the transaction, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by corporate insiders.

BNY Price Performance

NYSE:BK opened at $136.60 on Tuesday. BNY has a 12 month low of $87.41 and a 12 month high of $139.15. The stock has a 50 day moving average of $125.94 and a two-hundred day moving average of $119.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market cap of $94.01 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08.

BNY (NYSE:BK) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. On average, analysts expect that BNY will post 8.78 earnings per share for the current fiscal year.

BNY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY’s dividend payout ratio is 26.27%.

BNY Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.