ProShare Advisors LLC Decreases Stock Holdings in BNY $BK

ProShare Advisors LLC lowered its holdings in shares of BNY (NYSE:BK) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 147,050 shares of the bank’s stock after selling 3,835 shares during the quarter. ProShare Advisors LLC’s holdings in BNY were worth $17,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased 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 worth $8,279,525,000 after buying an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BNY by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. grew its position in BNY by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in BNY by 1.5% during the third quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock worth $488,564,000 after acquiring an additional 66,010 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

BNY Stock Up 0.7%

Shares of NYSE BK opened at $137.22 on Thursday. BNY has a 1 year low of $87.41 and a 1 year high of $139.15. The firm has a 50-day simple moving average of $126.80 and a two-hundred day simple moving average of $120.04. The company has a market cap of $94.44 billion, a P/E ratio of 17.00, a PEG ratio of 1.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

BNY (NYSE:BK) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. BNY had a return on equity of 15.29% and a net margin of 14.60%.The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts anticipate that BNY will post 8.78 earnings per share for the current year.

BNY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. BNY’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BK. Truist Financial upped their price objective on BNY from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Evercore set a $136.00 target price on BNY in a research report on Friday, April 17th. JPMorgan Chase & Co. increased their price target on BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Citigroup assumed coverage on BNY in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. One investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.08.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was 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 in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by company insiders.

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.