Varma Mutual Pension Insurance Co Purchases 8,900 Shares of BNY $BK

Key Points

• Varma Mutual Pension Insurance Co raised its stake in BNY by 5.3%, buying 8,900 shares to hold 177,490 shares valued at about $20.6 million at quarter-end.
• BNY beat Q results, reporting $2.25 EPS vs. $1.94 expected and $5.41B in revenue (up 12.9% YoY), and announced a $0.53 quarterly dividend (ex-dividend Apr 27, payable May 8).
• Institutional ownership is high (85.31%), with large position builds from UBS Asset Management, Ameriprise, AQR and Vanguard (Vanguard holds ~71.3M shares, ~$8.28B).

Varma Mutual Pension Insurance Co grew its position in BNY (NYSE:BK - Free Report) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 177,490 shares of the bank's stock after buying an additional 8,900 shares during the period. Varma Mutual Pension Insurance Co's holdings in BNY were worth $20,605,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 valued at $771,080,000 after buying an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of BNY by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after buying an additional 2,034,781 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of BNY by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank's stock valued at $438,418,000 after buying an additional 906,218 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of BNY in the 4th quarter valued at about $95,002,000. Finally, Vanguard Group Inc. boosted its holdings in shares of BNY by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after buying an additional 647,847 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

BNY Stock Performance

BK opened at $133.81 on Monday. BNY has a 12-month low of $81.12 and a 12-month high of $139.15. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $92.09 billion, a PE ratio of 16.58, a P/E/G ratio of 0.98 and a beta of 1.08. The firm has a 50 day moving average of $122.91 and a two-hundred day moving average of $117.79.

BNY (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the firm posted $1.58 EPS. BNY's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts anticipate that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th. BNY's payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BK. New Street Research set a $143.00 price objective on shares of BNY in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their price objective on shares of BNY from $130.00 to $142.00 and gave the company a "sector perform" rating in a research report on Friday, April 17th. TD Cowen increased their price objective on shares of BNY from $133.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, January 7th. Barclays increased their price objective on shares of BNY from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Wells Fargo & Company increased their price objective on shares of BNY from $119.00 to $122.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, BNY has a consensus rating of "Moderate Buy" and an average price target of $137.35.

Insider Activity

In other news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction that occurred on 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 transaction, the vice president directly owned 15,206 shares of the company's stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction that occurred on 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last quarter. 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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