PFA Pension Forsikringsaktieselskab Takes $95 Million Position in BNY $BK

PFA Pension Forsikringsaktieselskab purchased a new stake in BNY (NYSE:BK) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 812,884 shares of the bank’s stock, valued at approximately $95,002,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BNY in the 4th quarter valued at $27,000. Marquette Asset Management LLC grew its stake in BNY by 174.7% during the 4th 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 position in BNY during the 3rd quarter worth $33,000. Westside Investment Management Inc. grew its stake in BNY by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in BNY during the 4th quarter worth $46,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BK. Evercore set a $136.00 target price on BNY in a research note on Friday, April 17th. TD Cowen boosted their target price on BNY from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Citigroup began coverage on BNY in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods boosted their target price on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada boosted their target price on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. One 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.35.

BNY Stock Performance

Shares of BK opened at $133.81 on Friday. The stock has a 50-day moving average of $122.91 and a two-hundred day moving average of $117.64. BNY has a one year low of $81.12 and a one year high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.75. The stock has a market cap of $92.09 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.98 and a beta of 1.06.

BNY (NYSE:BK) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict that BNY will post 8.76 EPS for the current year.

BNY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be issued a $0.53 dividend. 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%.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value 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 approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

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.