Teachers Retirement System of The State of Kentucky Buys 67,000 Shares of BNY $BK

by · The Cerbat Gem

Teachers Retirement System of The State of Kentucky boosted its stake in BNY (NYSE:BKFree Report) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,774 shares of the bank’s stock after acquiring an additional 67,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in BNY were worth $35,497,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BK. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in BNY by 639.5% in 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 valued at $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. AQR Capital Management LLC boosted its holdings in BNY by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after acquiring an additional 906,218 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BNY by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after acquiring an additional 647,847 shares in the last quarter. Finally, Danske Bank A S bought a new stake in BNY in the third quarter valued at $65,973,000. Institutional investors own 85.31% of the company’s stock.

BNY Stock Performance

Shares of BK stock opened at $134.10 on Friday. BNY has a 12 month low of $77.77 and a 12 month high of $139.15. The stock has a market cap of $92.29 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.99 and a beta of 1.06. 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 company’s fifty day moving average price is $121.70 and its 200-day moving average price is $116.94.

BNY (NYSE:BKGet Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating 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 firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts expect that BNY will post 8.76 EPS 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 issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, April 27th. BNY’s payout ratio is 26.27%.

Analysts Set New Price Targets

Several analysts recently weighed in on BK shares. Morgan Stanley lifted their price target on shares of BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. New Street Research set a $143.00 price target on shares of BNY in a report on Wednesday, January 14th. Weiss Ratings upgraded shares of BNY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. JPMorgan Chase & Co. boosted their target price on shares of BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Evercore set a $136.00 target price on shares of BNY in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.35.

Read Our Latest Stock Analysis on BK

Insider Buying and Selling at BNY

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the sale, the insider owned 17,259 shares in the company, valued at approximately $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 accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,091 shares of company stock worth $6,568,423. Corporate insiders own 0.17% of the company’s stock.

About BNY

(Free Report)

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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