Stronghold Wealth Management L.L.C. Makes New $456,000 Investment in BNY $BK

Stronghold Wealth Management L.L.C. purchased a new position in BNY (NYSE:BK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,930 shares of the bank’s stock, valued at approximately $456,000.

A number of other large investors have also bought and sold shares of BK. Northwestern Mutual Wealth Management Co. increased its stake in 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 worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $771,080,000 after purchasing an additional 6,119,749 shares during the period. Ameriprise Financial Inc. increased 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 worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. AQR Capital Management LLC increased its position in shares of 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 during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of BNY in the fourth quarter valued at about $95,002,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of BNY from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of BNY from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price objective on shares of BNY from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Royal Bank Of Canada boosted their price objective on shares of BNY from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Finally, Keefe, Bruyette & Woods boosted their target price on BNY from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.08.

Insider Activity at BNY

In related news, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,091 shares of company stock worth $6,568,423 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

BNY Price Performance

BK opened at $134.89 on Monday. BNY has a 52-week low of $87.41 and a 52-week high of $139.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50 day moving average price is $125.55 and its 200-day moving average price is $119.43. The stock has a market capitalization of $92.84 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08.

BNY (NYSE:BK) last announced its quarterly earnings results 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 company 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 company earned $1.58 earnings per share. BNY’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that BNY will post 8.78 EPS for the current year.

BNY Announces Dividend

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

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.