Caisse Des Depots ET Consignations Sells 11,433 Shares of BNY $BK

Key Points

• Caisse Des Depots ET Consignations cut its stake in BNY by 26.5%, selling 11,433 shares in Q4 and now holds 31,784 shares valued at $3.69 million.
• Insiders have sold a total of 48,091 shares worth $6.57 million over the past 90 days, while institutional ownership remains high at 85.31% — Vanguard alone owns about 71.32 million shares (~$8.28 billion).
• BNY beat quarterly estimates (EPS $2.25 vs. $1.94 est.; revenue $5.41B vs. $5.14B), declared a $0.53 quarterly dividend (annualized $2.12, ~1.6% yield), and carries a consensus "Moderate Buy" with an average target of $137.35.

Caisse Des Depots ET Consignations lessened its position in shares of BNY (NYSE:BK - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,784 shares of the bank's stock after selling 11,433 shares during the period. Caisse Des Depots ET Consignations' holdings in BNY were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of BNY by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after acquiring an additional 647,847 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of BNY by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 valued at $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. First Trust Advisors LP lifted its stake in BNY by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank's stock valued at $488,564,000 after purchasing an additional 66,010 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in BNY by 29.1% in the 3rd 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. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at BNY

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm's 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 completion of the transaction, the vice president owned 15,206 shares of the company's stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm's 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 transaction, the insider directly owned 17,259 shares of the company's stock, valued at $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 over the last ninety days. Insiders own 0.17% of the company's stock.

BNY Price Performance

BK stock opened at $133.81 on Friday. The company has a fifty day moving average price of $122.91 and a 200-day moving average price of $117.64. The company has a market capitalization of $92.09 billion, a P/E ratio of 16.58, a PEG ratio of 0.98 and a beta of 1.08. BNY has a 52-week low of $81.12 and a 52-week high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75.

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, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion during 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 revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, equities analysts expect that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

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

Wall Street Analysts Forecast Growth

BK has been the subject of several research reports. TD Cowen increased their price objective on shares of BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, January 7th. Morgan Stanley increased their price objective on shares of BNY from $135.00 to $139.00 and gave the company an "equal weight" rating in a research note on Friday, April 17th. Wells Fargo & Company increased their price objective on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. Citigroup initiated coverage on shares of BNY in a research note on Monday, February 23rd. They issued a "neutral" rating for the company. Finally, Barclays increased their price objective on shares of BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research note 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 issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $137.35.

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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