Bank of New York Mellon Corp Has $178.64 Million Stake in Northern Trust Corporation (NASDAQ:NTRS)

Bank of New York Mellon Corp raised its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,810,816 shares of the asset manager's stock after buying an additional 585,992 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Northern Trust worth $178,637,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Northern Trust during the fourth quarter worth $83,550,000. Royal Bank of Canada increased its holdings in shares of Northern Trust by 60.2% in the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after purchasing an additional 562,976 shares during the period. Cerity Partners LLC grew its position in Northern Trust by 451.9% during the fourth quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager's stock worth $56,866,000 after buying an additional 454,956 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Northern Trust in the 4th quarter worth approximately $46,197,000. Finally, GAMMA Investing LLC boosted its stake in Northern Trust by 10,340.5% in the first quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock worth $43,959,000 after buying an additional 441,334 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI increased their target price on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research report on Monday, June 30th. Bank of America decreased their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $114.67.

Insider Buying and Selling at Northern Trust

In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction 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 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 ninety days. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

Shares of NTRS traded up $0.06 during trading hours on Thursday, reaching $127.06. 645,977 shares of the company traded hands, compared to its average volume of 1,439,062. The stock has a fifty day simple moving average of $111.24 and a 200 day simple moving average of $105.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $24.72 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.91 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.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its 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. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. As a group, research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.36%. Northern Trust's payout ratio is currently 27.99%.

About Northern Trust

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.