Principal Financial Group Inc. Has $92.03 Million Holdings in BNY $BK

Key Points

• Principal Financial Group increased its stake in BNY by 1.3% to 792,710 shares, valued at about $92.03 million.
• BNY beat quarterly expectations, reporting EPS of $2.25 versus a $1.94 consensus and revenue of $5.41 billion, up 12.9% year‑over‑year.
• BNY declared a quarterly dividend of $0.53 (annualized $2.12, yield 1.6%), while institutional investors own 85.31% of the stock and Vanguard holds ~71.32 million shares (~$8.28 billion).

Principal Financial Group Inc. lifted its holdings in shares of BNY (NYSE:BK - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 792,710 shares of the bank's stock after purchasing an additional 10,133 shares during the period. Principal Financial Group Inc. owned 0.11% of BNY worth $92,026,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of BNY by 639.5% during 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. lifted its holdings 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 worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. AQR Capital Management LLC lifted its holdings 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 worth $438,418,000 after purchasing an additional 906,218 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of BNY during the fourth quarter worth $95,002,000. Finally, Vanguard Group Inc. lifted its holdings 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 during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

BNY Price Performance

Shares of NYSE BK opened at $133.80 on Thursday. The firm'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 P/E ratio of 16.58, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

BNY (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Monday, April 27th will be given 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 payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Citigroup began coverage on shares of BNY in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. Royal Bank Of Canada boosted their target price on shares of BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a report on Friday, April 17th. Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday. Finally, New Street Research set a $143.00 target price on shares of BNY in a report on Wednesday, January 14th. One equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.35.

Insider Buying and Selling at BNY

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction dated Friday, April 17th. The shares were 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 of the company's stock, valued at $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shannon Marie Hobbs sold 297 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president directly owned 15,206 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 48,091 shares of company stock valued at $6,568,423. Insiders own 0.17% of the company's stock.

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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