Artemis Investment Management LLP Has $90.26 Million Holdings in BNY $BK

Key Points

• Artemis Investment Management increased its stake in BNY by 17.4% in Q4 to 777,519 shares valued at $90.26 million, making it the fund's 29th-largest holding.
• BNY topped estimates with quarterly EPS of $2.25 versus a $1.94 consensus and reported revenue of $5.41 billion (up 12.9% YoY); analysts project full-year EPS of 8.76.
• The company announced a quarterly dividend of $0.53 (annualized $2.12, yield 1.6%), with record date April 27 and payment on May 8.

Artemis Investment Management LLP grew its position in BNY (NYSE:BK - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 777,519 shares of the bank's stock after purchasing an additional 115,250 shares during the period. BNY comprises about 1.1% of Artemis Investment Management LLP's holdings, making the stock its 29th largest position. Artemis Investment Management LLP owned approximately 0.11% of BNY worth $90,262,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BK. Ashton Thomas Private Wealth LLC raised its stake in BNY by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock valued at $9,998,000 after buying an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp raised its stake in BNY by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank's stock valued at $3,487,000 after buying an additional 8,277 shares in the last quarter. First National Advisers LLC acquired a new stake in BNY during the third quarter valued at approximately $3,304,000. First Horizon Corp acquired a new stake in BNY during the third quarter valued at approximately $22,072,000. Finally, National Pension Service raised its stake in BNY by 3.1% during the third quarter. National Pension Service now owns 2,053,278 shares of the bank's stock valued at $223,725,000 after buying an additional 61,718 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

BNY Stock Performance

Shares of BK opened at $133.81 on Friday. The firm's 50 day moving average is $122.91 and its 200-day moving average is $117.64. The stock has a market capitalization of $92.09 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. BNY has a 12-month low of $81.12 and a 12-month high of $139.15.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Equities research analysts anticipate that BNY will post 8.76 EPS for the current fiscal year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th. BNY's dividend payout ratio (DPR) is 26.27%.

Insider Activity

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider owned 17,259 shares in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BK. Evercore set a $136.00 target price on shares of BNY in a report on Friday, April 17th. JPMorgan Chase & Co. increased their target price on shares of BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. New Street Research set a $143.00 target price on shares of BNY in a report on Wednesday, January 14th. Royal Bank Of Canada increased their target price on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" rating in a report on Friday, April 17th. Finally, Citigroup started coverage on shares of BNY in a report on Monday, February 23rd. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.35.

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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