Dana Investment Advisors Inc. Has $29.55 Million Stock Holdings in BNY $BK

Key Points

• Dana Investment Advisors trimmed its BNY stake by 6.2% in the fourth quarter, selling 16,688 shares and ending with 254,520 shares valued at about $29.55 million.
• BNY reported strong quarterly results, with EPS of $2.25 beating estimates and revenue of $5.41 billion topping forecasts; revenue also rose 12.9% from a year earlier.
• Analysts remain generally upbeat, with a consensus rating of Moderate Buy and an average price target of $138.08, while the company also paid a quarterly dividend of $0.53 per share.

Dana Investment Advisors Inc. cut its position in BNY (NYSE:BK - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,520 shares of the bank's stock after selling 16,688 shares during the period. BNY comprises about 0.9% of Dana Investment Advisors Inc.'s portfolio, making the stock its 20th largest position. Dana Investment Advisors Inc.'s holdings in BNY were worth $29,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BK. Northwestern Mutual Wealth Management Co. raised its holdings in BNY by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in BNY by 639.5% in the third 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 during the period. Ameriprise Financial Inc. raised its holdings in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. AQR Capital Management LLC raised its holdings in BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank's stock worth $438,418,000 after purchasing an additional 906,218 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in BNY in the fourth quarter worth $95,002,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a report on Friday, April 17th. Citigroup assumed coverage on shares of BNY in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. 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. Truist Financial raised their price objective on shares of BNY from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Finally, Barclays raised their price objective on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $138.08.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business's stock in a transaction dated 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 in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alejandro Perez sold 12,504 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock valued at $6,568,423 in the last ninety days. 0.17% of the stock is owned by company insiders.

BNY Stock Performance

Shares of NYSE BK opened at $134.89 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $125.55 and a 200 day moving average price of $119.35. The stock has a market capitalization of $92.84 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08. BNY has a 52 week low of $87.41 and a 52 week high of $139.15.

BNY (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 15.29% and a net margin of 14.60%.The business's revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. Analysts predict that BNY will post 8.78 earnings per share for the current fiscal year.

BNY Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, April 27th. BNY's dividend payout ratio (DPR) is currently 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.

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