Barrow Hanley Mewhinney & Strauss LLC Trims Holdings in Northern Trust Corporation $NTRS

Barrow Hanley Mewhinney & Strauss LLC decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,746 shares of the asset manager’s stock after selling 5,443 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.11% of Northern Trust worth $27,155,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Northern Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock worth $2,864,652,000 after buying an additional 188,472 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of 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 worth $988,170,000 after acquiring an additional 1,270,748 shares during the period. Geode Capital Management LLC grew its position in shares of Northern Trust by 3.7% during the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock worth $656,229,000 after purchasing an additional 184,726 shares in the last quarter. Invesco Ltd. grew its position in shares of Northern Trust by 1.7% during the second quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock worth $443,971,000 after purchasing an additional 58,029 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Northern Trust by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock valued at $341,399,000 after purchasing an additional 33,227 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Richard Petrino purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average cost of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the acquisition, the director owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Guy Gibson sold 3,009 shares of Northern Trust stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider owned 29,332 shares of the company’s stock, valued at $4,176,583.48. The trade was a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,905 shares of company stock valued at $5,166,714. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $140.90 on Thursday. The stock has a market cap of $26.18 billion, a PE ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.27. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The company has a 50-day moving average price of $145.70 and a 200 day moving average price of $136.25. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last announced 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. The business 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 EPS. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. Northern Trust’s dividend payout ratio (DPR) is 36.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 26th. Evercore upped 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 report on Friday, January 23rd. Citigroup started coverage on shares of Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Wells Fargo & Company lifted 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, The Goldman Sachs Group boosted their price target on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $148.75.

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.