ProShare Advisors LLC lessened its stake in shares of BNY (NYSE:BK – Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 147,050 shares of the bank’s stock after selling 3,835 shares during the period. ProShare Advisors LLC’s holdings in BNY were worth $17,071,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 valued at $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in BNY by 639.5% in 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 in the last quarter. Ameriprise Financial Inc. raised its stake 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. AQR Capital Management LLC lifted its holdings in BNY by 29.1% during the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after purchasing an additional 906,218 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in BNY during the fourth quarter valued at approximately $95,002,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
BNY Trading Up 0.7%
BNY stock opened at $137.22 on Thursday. BNY has a 1 year low of $87.41 and a 1 year high of $139.15. The firm’s 50 day moving average price is $126.80 and its 200-day moving average price is $120.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $94.44 billion, a P/E ratio of 17.00, a PEG ratio of 1.00 and a beta of 1.08.
BNY Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. BNY’s dividend payout ratio is 26.27%.
Insider Activity at BNY
In other news, 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 transaction of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 over the last 90 days. Company insiders own 0.17% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on BK shares. Barclays upped their price target on shares of BNY from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Citigroup began coverage on shares of BNY in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Evercore set a $136.00 price target on BNY in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods raised their price target on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, BNY presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.
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.
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