Vanguard Group Inc. Purchases 647,847 Shares of BNY $BK

Vanguard Group Inc. grew its position in BNY (NYSE:BK - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,319,884 shares of the bank's stock after acquiring an additional 647,847 shares during the quarter. Vanguard Group Inc. owned about 10.23% of BNY worth $8,279,525,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BNY in the 4th quarter worth about $27,000. Marquette Asset Management LLC boosted its position in shares of BNY by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank's stock valued at $30,000 after buying an additional 166 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of BNY during the third quarter valued at approximately $33,000. Westside Investment Management Inc. grew its stake in shares of BNY by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after buying an additional 127 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in shares of BNY by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock worth $47,000 after buying an additional 242 shares during the period. Institutional investors own 85.31% of the company's stock.

BNY Price Performance

Shares of BK stock opened at $134.10 on Monday. BNY has a twelve month low of $77.77 and a twelve month high of $139.15. The stock has a market capitalization of $92.29 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.98 and a beta of 1.06. The stock has a fifty day simple moving average of $121.70 and a two-hundred day simple moving average of $117.02. 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 results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating 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 revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. On average, analysts predict that BNY will post 8.76 EPS for the current fiscal year.

BNY Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 27th will be issued 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 dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BK. Wells Fargo & Company boosted their price objective on BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, January 14th. Evercore set a $136.00 target price on BNY in a research note on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on BNY from $128.50 to $130.50 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Citigroup started coverage on shares of BNY in a research note on Monday, February 23rd. They set a "neutral" rating for the company. Finally, Morgan Stanley upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.35.

Insider Buying and Selling at BNY

In other BNY news, EVP Alejandro Perez sold 12,504 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were 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 of the company's stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the business's 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 of the company's stock, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Company 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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