4,187 Shares in Northern Trust Corporation (NASDAQ:NTRS) Bought by MQS Management LLC

MQS Management LLC bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,187 shares of the asset manager's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Bank of New York Mellon Corp increased its holdings in shares of Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after purchasing an additional 6,570 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Northern Trust by 4,790.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 113,503 shares of the asset manager's stock valued at $11,197,000 after purchasing an additional 111,182 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Northern Trust during the fourth quarter worth $7,437,000. Finally, Alta Wealth Advisors LLC acquired a new position in shares of Northern Trust in the 1st quarter valued at $413,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Down 0.6%

NTRS opened at $125.91 on Monday. The company has a fifty day moving average of $112.44 and a two-hundred day moving average of $105.45. The stock has a market capitalization of $24.49 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.82 and a beta of 1.26. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $133.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. On average, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's payout ratio is 27.99%.

Insider Buying and Selling

In related news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock worth $981,069 in the last quarter. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of research reports. Citigroup lowered their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Bank of America dropped their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group raised their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $114.50.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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