BNY $BK Shares Bought by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its stake in BNY by 46.2% in the fourth quarter, buying 7,787 additional shares and lifting its holdings to 24,630 shares worth about $2.86 million.
• Insiders were net sellers of BNY stock recently, with VP Shannon Marie Hobbs and EVP Alejandro Perez both selling shares; overall insider sales totaled 48,091 shares last quarter.
• BNY posted strong quarterly results, beating earnings and revenue estimates, while analysts currently have a Moderate Buy consensus with an average price target of $137.35; the company also paid a quarterly dividend of $0.53 per share.

MGO One Seven LLC raised its stake in BNY (NYSE:BK - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,630 shares of the bank's stock after purchasing an additional 7,787 shares during the quarter. MGO One Seven LLC's holdings in BNY were worth $2,859,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Ransom Advisory Ltd boosted its holdings in shares of BNY by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock valued at $787,000 after purchasing an additional 85 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of BNY by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock valued at $1,072,000 after purchasing an additional 86 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of BNY by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank's stock valued at $821,000 after purchasing an additional 94 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of BNY by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank's stock valued at $414,000 after purchasing an additional 98 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of BNY by 2.9% in the 4th quarter. Norden Group LLC now owns 3,475 shares of the bank's stock valued at $403,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity

In related news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company's stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction on 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 sale, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

BK has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of BNY from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, April 17th. Evercore set a $136.00 target price on shares of BNY in a report on Friday, April 17th. Royal Bank Of Canada lifted their target price on shares of BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of BNY from $128.50 to $130.50 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $137.35.

BNY Stock Performance

NYSE:BK opened at $130.48 on Monday. 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 capitalization of $89.80 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.96 and a beta of 1.08. The firm's fifty day simple moving average is $123.84 and its 200 day simple moving average is $118.32. BNY has a twelve month low of $85.69 and a twelve 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 (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm's quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that BNY will post 8.76 earnings per share for the current fiscal year.

BNY Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid 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 yield of 1.6%. BNY's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.