Pictet Asset Management Holding SA Decreases Holdings in BNY $BK

Key Points

• Pictet Asset Management cut its stake in BNY by 4.1% in Q4, selling 21,619 shares and now holds 512,111 shares valued at about $59.47 million (≈0.07% of the company).
• BNY beat estimates with $2.25 EPS vs $1.94 expected and $5.41B revenue vs $5.14B, and announced a quarterly dividend of $0.53 payable May 8 (≈1.6% yield).
• Insider selling has been notable — EVP Alejandro Perez sold 12,504 shares on April 17, and insiders sold 48,091 shares (~$6.57M) over the past 90 days, while corporate insiders own just 0.17%.

Pictet Asset Management Holding SA cut its stake in BNY (NYSE:BK - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 512,111 shares of the bank's stock after selling 21,619 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of BNY worth $59,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 worth $771,080,000 after acquiring an additional 6,119,749 shares during the period. Ameriprise Financial Inc. raised its stake in shares of BNY by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. AQR Capital Management LLC raised its stake in shares of BNY by 29.1% during the third 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 period. Vanguard Group Inc. lifted its position in shares of BNY by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock worth $8,279,525,000 after purchasing an additional 647,847 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of BNY during the third quarter worth $65,973,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling

In related news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated 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 sale, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of BNY from $143.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Weiss Ratings upgraded shares of BNY from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, March 11th. TD Cowen raised their target price on BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, January 7th. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. Finally, 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 note on Tuesday, April 7th. One research 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 company. Based on data from MarketBeat.com, BNY currently has an average rating of "Moderate Buy" and an average target price of $137.35.

BNY Stock Performance

Shares of BK stock opened at $133.63 on Wednesday. The company has a market cap of $91.97 billion, a P/E ratio of 16.56, a PEG ratio of 0.98 and a beta of 1.06. The business has a 50 day moving average of $122.33 and a two-hundred day moving average of $117.42. BNY has a 52 week low of $77.77 and a 52 week high of $139.15. 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 announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $1.58 EPS. As a group, analysts anticipate that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

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

BNY Company 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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