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

Bank of New York Mellon Corp lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,036,137 shares of the asset manager’s stock after purchasing an additional 83,117 shares during the period. Bank of New York Mellon Corp owned about 1.10% of Northern Trust worth $284,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NTRS. Triumph Capital Management acquired a new stake in Northern Trust in the 3rd quarter valued at $25,000. Reflection Asset Management purchased a new position in Northern Trust during the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods increased their target price on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Evercore set a $179.00 target price on Northern Trust in a research report on Monday, July 6th. Bank of America lifted their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley boosted their price target on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $178.75.

Insider Activity

In related news, insider Clive Bellows sold 2,800 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was 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 approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is currently owned by company insiders.

Northern Trust Stock Down 2.0%

NASDAQ NTRS opened at $184.68 on Friday. The business’s fifty day simple moving average is $172.99 and its 200-day simple moving average is $156.37. 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 firm has a market cap of $34.18 billion, a PE ratio of 19.34, a P/E/G ratio of 1.20 and a beta of 1.25. Northern Trust Corporation has a 52 week low of $118.99 and a 52 week high of $191.60.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

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.