Northern Trust Corporation $NTRS Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Northern Trust Corporation (NASDAQ:NTRS) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,947,456 shares of the asset manager’s stock after buying an additional 40,048 shares during the period. Bank of New York Mellon Corp’s holdings in Northern Trust were worth $262,128,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Northern Trust in the 2nd quarter worth $276,087,000. Primecap Management Co. CA lifted its position in Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after purchasing an additional 1,270,748 shares during the period. Marshall Wace LLP boosted its holdings in Northern Trust by 2,397.3% in the 2nd quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock valued at $83,304,000 after purchasing an additional 630,717 shares in the last quarter. Rokos Capital Management LLP purchased a new stake in Northern Trust in the 2nd quarter valued at approximately $73,888,000. Finally, LSV Asset Management increased its position in Northern Trust by 154.0% during the 2nd quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock worth $102,191,000 after purchasing an additional 488,690 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president directly owned 48,257 shares in the company, valued at $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,357 shares of company stock worth $7,370,987 in the last 90 days. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NTRS. Evercore ISI raised their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 target price on Northern Trust in a report on Wednesday, January 7th. Citigroup upped their price target on shares of Northern Trust from $143.00 to $162.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, TD Cowen boosted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average target price of $148.75.

Northern Trust Price Performance

Northern Trust stock opened at $150.66 on Friday. The firm has a market capitalization of $28.49 billion, a PE ratio of 17.24, a P/E/G ratio of 1.22 and a beta of 1.27. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The firm’s 50-day simple moving average is $139.89 and its 200 day simple moving average is $132.49. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. The company had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 EPS. On average, equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.1%. Northern Trust’s dividend payout ratio is presently 36.61%.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.