Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in BNY $BK

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in BNY (NYSE:BK) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,477,063 shares of the bank’s stock after acquiring an additional 66,890 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in BNY were worth $172,875,000 at the end of the most recent quarter.

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

BNY Stock Performance

NYSE BK opened at $133.80 on Thursday. The stock has a fifty day simple moving average of $123.56 and a 200-day simple moving average of $118.15. 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 stock has a market cap of $92.09 billion, a PE ratio of 16.58, a P/E/G ratio of 0.97 and a beta of 1.08. BNY has a twelve month low of $82.91 and a twelve month high of $139.15.

BNY (NYSE:BK) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) 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 period in the previous year, the firm earned $1.58 EPS. BNY’s revenue was up 12.9% on a year-over-year basis. Equities analysts anticipate that BNY will post 8.76 earnings per share for the current year.

BNY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 27th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis 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%.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. Evercore set a $136.00 price target on BNY in a report on Friday, April 17th. Citigroup began coverage on shares of BNY in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Wells Fargo & Company lifted their target price on shares of BNY from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of BNY in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada increased their price target on shares of BNY from $130.00 to $142.00 and gave the company 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 issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.35.

Insider Activity at BNY

In related news, 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 value of $1,713,173.04. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,091 shares of company stock valued at $6,568,423 over the last 90 days. 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.