Bank of New York Mellon Corp Raises Stock Position in Northern Trust Corporation $NTRS

Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,947,456 shares of the asset manager’s stock after purchasing an additional 40,048 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of Northern Trust worth $262,128,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NTRS. Salomon & Ludwin LLC boosted its position in Northern Trust by 13.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock valued at $90,000 after buying an additional 79 shares during the period. New York Life Investment Management LLC raised its stake in shares of Northern Trust by 0.3% in the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock valued at $3,694,000 after acquiring an additional 80 shares in the last quarter. Welch Group LLC boosted its holdings in Northern Trust by 2.8% in the second quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock valued at $400,000 after purchasing an additional 87 shares during the period. Harbour Investments Inc. grew its stake in Northern Trust by 10.0% during the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock worth $131,000 after purchasing an additional 94 shares in the last quarter. Finally, Twin Capital Management Inc. grew its stake in Northern Trust by 0.5% during the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock worth $2,545,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 25,000 shares of Northern Trust stock in a transaction on Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the transaction, the chief operating officer directly owned 26,259 shares in the company, valued at approximately $3,928,871.58. The trade was a 48.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director directly owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 53,357 shares of company stock valued at $7,370,987 over the last ninety days. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday, October 23rd. Citigroup raised their price objective on shares of Northern Trust from $143.00 to $162.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Evercore ISI boosted their target price on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $148.75.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $150.66 on Friday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The firm has a market capitalization of $28.49 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.70. The company’s fifty day moving average price is $139.89 and its 200 day moving average price is $132.49.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company had revenue of $3.15 billion for the quarter. During the same period in the previous year, the business posted $2.26 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

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

About Northern Trust

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.