Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in BNY $BK

Key Points

• Mitsubishi UFJ Asset Management raised its stake in BNY by 4.7%, acquiring 66,890 shares to hold 1,477,063 shares (about 0.21%) valued at roughly $172.9 million.
• BNY beat quarterly expectations with $2.25 EPS (vs. $1.94 est.) and $5.41 billion in revenue (up 12.9% YoY), and analysts have a consensus rating of "Moderate Buy" with a $137.35 price target.
• The bank declared a quarterly dividend of $0.53 per share (annualized $2.12, ~1.6% yield), with an ex-dividend/record date of April 27 and payment scheduled for May 8.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in BNY (NYSE:BK - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,477,063 shares of the bank's stock after acquiring an additional 66,890 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of BNY worth $172,875,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY during the 4th quarter worth about $27,000. Marquette Asset Management LLC boosted its stake in shares of BNY by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock worth $30,000 after buying an additional 166 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of BNY in the third quarter worth about $33,000. Westside Investment Management Inc. grew its holdings in BNY by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after acquiring an additional 127 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in BNY during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BK shares. Morgan Stanley raised their price objective on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Friday, April 17th. Evercore set a $136.00 price target on shares of BNY in a report on Friday, April 17th. Citigroup initiated coverage on shares of BNY in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of BNY from $128.50 to $130.50 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.35.

BNY Trading Up 1.1%

Shares of NYSE:BK opened at $133.80 on Thursday. The business's 50 day moving average price is $123.56 and its 200-day moving average price is $118.15. BNY has a 1 year low of $82.91 and a 1 year high of $139.15. 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 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71.

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

BNY Announces Dividend

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

Insider Transactions at BNY

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares of the company's stock, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock worth $6,568,423 over the last three months. 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.

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