Northern Trust Co. (NASDAQ:NTRS) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,931,569 shares of the asset manager’s stock after purchasing an additional 161,040 shares during the period. Bank of New York Mellon Corp owned 0.93% of Northern Trust worth $165,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Northern Trust by 64.8% in the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after buying an additional 195 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Northern Trust in the second quarter valued at $49,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Northern Trust in the second quarter valued at $51,000. Cambridge Trust Co. bought a new position in shares of Northern Trust in the second quarter valued at $54,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Northern Trust in the second quarter valued at $57,000. Institutional investors own 81.44% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of several research reports. Morgan Stanley upped their price target on Northern Trust from $97.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Northern Trust from $95.00 to $90.00 in a report on Friday, January 20th. The Goldman Sachs Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating and cut their target price for the company from $97.00 to $95.00 in a research note on Wednesday, January 4th. Barclays boosted their target price on shares of Northern Trust from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Finally, Wells Fargo & Company cut their target price on shares of Northern Trust from $121.00 to $115.00 in a research note on Tuesday, December 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.05.

Insider Activity

In related news, EVP Lauren E. Allnutt sold 559 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $87.30, for a total value of $48,800.70. Following the completion of the sale, the executive vice president now directly owns 5,576 shares in the company, valued at $486,784.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jason J. Tyler sold 1,764 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $96.98, for a total value of $171,072.72. Following the completion of the sale, the chief financial officer now directly owns 30,470 shares in the company, valued at $2,954,980.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lauren E. Allnutt sold 559 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $87.30, for a total transaction of $48,800.70. Following the completion of the sale, the executive vice president now owns 5,576 shares of the company’s stock, valued at $486,784.80. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 4.5 %

Northern Trust stock opened at $81.73 on Friday. The company’s fifty day simple moving average is $94.34 and its 200-day simple moving average is $90.97. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.46. Northern Trust Co. has a 12 month low of $76.15 and a 12 month high of $121.25. The stock has a market cap of $17.02 billion, a P/E ratio of 13.31 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The asset manager reported $0.71 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.10). Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm earned $1.91 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Northern Trust Co. will post 6.86 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, March 9th. Northern Trust’s dividend payout ratio is currently 48.86%.

Northern Trust Profile

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.