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

Bank of New York Mellon Corp grew its position in Northern Trust Corporation (NASDAQ:NTRS) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,953,020 shares of the asset manager’s stock after buying an additional 5,564 shares during the quarter. Bank of New York Mellon Corp’s holdings in Northern Trust were worth $266,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter valued at $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Northern Trust in the 4th quarter valued at about $27,000. Elyxium Wealth LLC purchased a new stake in Northern Trust during the 4th quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in Northern Trust during the 4th quarter valued at approximately $35,000. Finally, Olistico Wealth LLC purchased a new stake in Northern Trust during the 4th quarter valued at approximately $41,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

NTRS stock opened at $173.06 on Friday. Northern Trust Corporation has a 52-week low of $105.43 and a 52-week high of $173.66. The stock’s fifty day simple moving average is $158.91 and its 200-day simple moving average is $147.14. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $32.02 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 225 shares of the business’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,800 shares of company stock valued at $3,785,251 over the last three months. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. The Goldman Sachs Group upped their price target on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Barclays upped their price target on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price target on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada upped their price target on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $164.08.

Northern Trust Company 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.