Gabelli Funds LLC reduced its stake in BNY (NYSE:BK – Free Report) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,333,869 shares of the bank’s stock after selling 97,005 shares during the quarter. BNY accounts for approximately 1.0% of Gabelli Funds LLC’s portfolio, making the stock its 11th biggest position. Gabelli Funds LLC’s holdings in BNY were worth $154,849,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY in the 4th quarter valued at $27,000. Marquette Asset Management LLC increased its holdings in BNY by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in BNY in the 3rd quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in BNY in the 4th quarter valued at $46,000. Finally, Westside Investment Management Inc. boosted its position in BNY by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.
BNY Stock Performance
NYSE:BK opened at $134.89 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. BNY has a 1-year low of $87.41 and a 1-year high of $139.15. The firm has a 50-day moving average of $125.55 and a two-hundred day moving average of $119.43. The stock has a market cap of $92.84 billion, a P/E ratio of 16.72, a PEG ratio of 0.99 and a beta of 1.08.
BNY Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. BNY’s dividend payout ratio (DPR) is presently 26.27%.
Insider Activity at BNY
In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have weighed in on BK. Royal Bank Of Canada upped their price objective on shares of BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price objective on shares of BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Evercore set a $136.00 price objective on shares of BNY in a research report on Friday, April 17th. Finally, Citigroup began coverage on shares of BNY in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.
Check Out Our Latest Report on BNY
About BNY
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.
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