BNY $BK Shares Purchased by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management increased its BNY stake by 22.4% in the fourth quarter, ending with 46,959 shares valued at about $5.45 million.
• BNY reported strong quarterly earnings, posting $2.25 EPS versus $1.94 expected and revenue of $5.41 billion, with revenue up 12.9% year over year.
• The company also paid a quarterly dividend of $0.53 per share, and analysts currently rate the stock a consensus Moderate Buy with a $137.35 price target.

Generali Asset Management SPA SGR boosted its holdings in BNY (NYSE:BK - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,959 shares of the bank's stock after acquiring an additional 8,582 shares during the quarter. Generali Asset Management SPA SGR's holdings in BNY were worth $5,451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 purchasing an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares during the last quarter. AQR Capital Management LLC boosted 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 worth $438,418,000 after buying an additional 906,218 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in BNY during the fourth quarter worth approximately $95,002,000. Finally, Vanguard Group Inc. grew its position in BNY by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after buying an additional 647,847 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BNY

In other news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of BNY stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company's stock, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 in the last ninety days. Insiders own 0.17% of the company's stock.

BNY Price Performance

Shares of NYSE:BK opened at $130.48 on Friday. The company's fifty day moving average is $123.84 and its two-hundred day moving average is $118.32. The company has a market cap of $89.80 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. BNY has a 12-month low of $85.69 and a 12-month high of $139.15. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

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

BNY Announces Dividend

The firm also recently disclosed 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. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, April 27th. BNY's dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BK shares. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. raised their price objective on BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Weiss Ratings raised BNY from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday. Citigroup began coverage on BNY in a report on Monday, February 23rd. They set a "neutral" rating for the company. Finally, Barclays increased their price target on BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. One investment 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. According to data from MarketBeat.com, BNY presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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.