Davis Selected Advisers Has $60.57 Million Stock Holdings in BNY $BK

Key Points

• Davis Selected Advisers cut its position in BNY by 48.4%, selling 488,959 shares and now holds 521,722 shares worth about $60.57 million (≈0.07% of the company).
• BNY beat quarterly expectations with $2.25 EPS vs. $1.94 estimate and $5.41 billion in revenue (up 12.9% year‑over‑year), and analysts project about 8.76 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.53 per share (annualized $2.12, yield ~1.6%), while insiders have sold 48,091 shares over the last 90 days and institutional investors own about 85.31% of the stock.

Davis Selected Advisers lessened its position in BNY (NYSE:BK - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 521,722 shares of the bank's stock after selling 488,959 shares during the quarter. Davis Selected Advisers owned approximately 0.07% of BNY worth $60,567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ransom Advisory Ltd raised its position in 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 buying an additional 85 shares during the last quarter. Mather Group LLC. raised its position in 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 buying an additional 86 shares during the last quarter. Valeo Financial Advisors LLC raised its position in 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 buying an additional 94 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in BNY by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank's stock valued at $2,697,000 after buying an additional 96 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its position in 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 buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

BNY Stock Down 0.4%

NYSE:BK opened at $133.81 on Friday. The firm has a market capitalization of $92.09 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. BNY has a twelve month low of $81.12 and a twelve month high of $139.15. The stock's 50 day moving average price is $122.91 and its two-hundred day moving average price is $117.64. 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 for the quarter, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. BNY had a return on equity of 15.29% and a net margin of 14.60%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 EPS. 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 will be paid on Friday, May 8th. Investors of record on Monday, April 27th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. BNY's payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BK shares. Royal Bank Of Canada lifted their target price on BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted their price target on BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Barclays boosted their price target on BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Wells Fargo & Company boosted their price target on BNY from $119.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 14th. Finally, Morgan Stanley boosted their price target on BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research report 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 given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.35.

Insiders Place Their Bets

In related news, EVP Alejandro Perez sold 12,504 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. 0.17% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BNY (NYSE:BK - Free Report).

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.