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

Bank of New York Mellon Corp purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,077,076 shares of the asset manager's stock, valued at approximately $361,079,000. Bank of New York Mellon Corp owned 1.14% of Northern Trust at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management bought a new position in shares of Northern Trust during the 3rd quarter worth about $25,000. Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after buying an additional 101 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Northern Trust during the fourth quarter valued at about $34,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at about $35,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $183.90 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The firm has a fifty day moving average of $181.52 and a 200-day moving average of $163.27. The firm has a market capitalization of $33.65 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The company's revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's payout ratio is presently 27.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Northern Trust in a research report on Friday, July 31st. Keefe, Bruyette & Woods raised their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a research report on Thursday, July 9th. Citigroup lifted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. UBS Group set a $186.00 price target on shares of Northern Trust in a report on Friday, June 26th. Finally, Zacks Research upgraded shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $180.68.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company's stock.

Northern Trust 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.

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