Arbejdsmarkedets Tillaegspension Acquires Shares of 200,629 BNY $BK

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in BNY during the fourth quarter, buying 200,629 shares worth about $23.3 million.
• BNY’s latest quarterly results beat expectations, with earnings per share of $2.25 versus the $1.94 estimate and revenue of $5.41 billion, up 12.9% year over year.
• Analysts remain largely constructive on the stock: BNY has an average rating of “Moderate Buy” with an average target price of $138.08, while the company also recently paid a $0.53 quarterly dividend.

Arbejdsmarkedets Tillaegspension bought a new position in shares of BNY (NYSE:BK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,629 shares of the bank's stock, valued at approximately $23,291,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased 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 valued at $8,279,525,000 after purchasing an additional 647,847 shares during the period. Ameriprise Financial Inc. increased its position in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of BNY by 639.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock valued at $771,080,000 after purchasing an additional 6,119,749 shares during the period. First Trust Advisors LP increased its position in shares of BNY by 1.5% during the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank's stock valued at $488,564,000 after buying an additional 66,010 shares during the period. Finally, AQR Capital Management LLC lifted its position 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 during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BK has been the subject of a number of recent research reports. Truist Financial boosted their target price on BNY from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Citigroup initiated coverage on BNY in a research report on Monday, February 23rd. They issued a "neutral" rating for the company. JPMorgan Chase & Co. raised their target price on shares of BNY from $130.50 to $140.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Royal Bank Of Canada lifted their target price on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a research note on Friday, April 17th. Finally, Morgan Stanley upped their price target on BNY from $135.00 to $139.00 and gave the company an "equal weight" 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 given a Hold rating to the company. Based on data from MarketBeat, BNY presently has an average rating of "Moderate Buy" and an average target price of $138.08.

BNY Trading Down 0.8%

Shares of BK stock opened at $134.89 on Friday. The stock has a market capitalization of $92.84 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.99 and a beta of 1.08. 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's 50 day moving average is $125.55 and its 200 day moving average is $119.35. BNY has a 12-month low of $87.41 and a 12-month high of $139.15.

BNY (NYSE:BK - Get Free Report) last released its quarterly 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 the consensus estimate of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. Research analysts expect that BNY will post 8.78 earnings per share for the current year.

BNY Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. BNY's dividend payout ratio is currently 26.27%.

Insider Activity at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 50,238 shares of the company's stock, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company's stock.

BNY Company 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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