Generali Asset Management SPA SGR Buys 8,582 Shares of BNY $BK

Generali Asset Management SPA SGR increased its stake in shares of BNY (NYSE:BK) by 22.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 46,959 shares of the bank’s stock after purchasing an additional 8,582 shares during the period. Generali Asset Management SPA SGR’s holdings in BNY were worth $5,451,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BK. Vanguard Group Inc. lifted its stake in shares of BNY by 0.9% in the fourth 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. Ameriprise Financial Inc. grew its stake in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 during the last quarter. First Trust Advisors LP raised its holdings in BNY by 1.5% in the 3rd 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 period. Finally, AQR Capital Management LLC raised its holdings in BNY by 29.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock worth $438,418,000 after acquiring an additional 906,218 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Transactions at BNY

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction on 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 directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the 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 completion of the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company’s stock.

BNY Price Performance

Shares of BNY stock opened at $130.48 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.71. The company has a market cap of $89.80 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The firm has a fifty day moving average price of $123.84 and a two-hundred day moving average price of $118.32. BNY has a fifty-two week low of $85.69 and a fifty-two week high of $139.15.

BNY (NYSE:BK) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. BNY had a net margin of 14.60% and a return on equity of 15.29%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS. Analysts expect that BNY will post 8.76 EPS for the current year.

BNY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, April 27th. BNY’s payout ratio is currently 26.27%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BK shares. JPMorgan Chase & Co. upped their price target on shares of BNY from $128.50 to $130.50 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Keefe, Bruyette & Woods lifted their price objective on BNY from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price objective on BNY from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Wells Fargo & Company increased their target price on BNY from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Citigroup initiated coverage on BNY in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. One equities 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.35.

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.