BNY $BK Shares Sold by Securian Asset Management Inc.

Key Points

• Securian Asset Management cut its BNY stake by 44.3% in the fourth quarter, selling 15,096 shares and leaving it with 18,962 shares valued at about $2.2 million.
• BNY reported strong quarterly earnings, with EPS of $2.25 versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $138.08; BNY also recently paid a quarterly dividend of $0.53 per share.

Securian Asset Management Inc. trimmed its position in shares of BNY (NYSE:BK - Free Report) by 44.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,962 shares of the bank's stock after selling 15,096 shares during the period. Securian Asset Management Inc.'s holdings in BNY were worth $2,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of BNY during the 4th quarter worth about $27,000. Marquette Asset Management LLC raised its position in shares of BNY by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after buying an additional 166 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of BNY during the 3rd quarter worth about $33,000. Westside Investment Management Inc. raised its position in shares of BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after buying an additional 127 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of BNY during the 4th quarter worth about $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of BNY from $130.50 to $140.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup assumed coverage on shares of BNY in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Truist Financial boosted their price target on shares of BNY from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. New Street Research set a $143.00 price target on shares of BNY in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada boosted their price target on shares of BNY from $130.00 to $142.00 and gave the stock a "sector perform" 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

BNY Stock Up 1.5%

NYSE BK opened at $132.44 on Tuesday. 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 company's 50 day simple moving average is $124.26 and its 200 day simple moving average is $118.66. BNY has a 12 month low of $86.52 and a 12 month high of $139.15. The company has a market capitalization of $91.15 billion, a P/E ratio of 16.41, a PEG ratio of 0.96 and a beta of 1.08.

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

BNY Announces Dividend

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

Insider Buying and Selling at BNY

In related news, VP Shannon Marie Hobbs sold 297 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. 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 BNY stock in a transaction that occurred 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 completion of the transaction, the insider directly 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. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last quarter. Company insiders own 0.17% of the company's stock.

About BNY

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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