Northern Trust Corporation (NASDAQ:NTRS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.93% of Northern Trust worth $178,637,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Wayfinding Financial LLC bought a new stake in Northern Trust in the first quarter valued at about $35,000. IFM Investors Pty Ltd raised its stake in Northern Trust by 8.7% in the first quarter. IFM Investors Pty Ltd now owns 47,938 shares of the asset manager's stock valued at $4,316,000 after buying an additional 3,834 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Northern Trust by 58.3% during the first quarter. OneDigital Investment Advisors LLC now owns 3,102 shares of the asset manager's stock worth $306,000 after purchasing an additional 1,142 shares during the period. Calamos Advisors LLC increased its stake in shares of Northern Trust by 1.1% during the first quarter. Calamos Advisors LLC now owns 79,109 shares of the asset manager's stock worth $7,804,000 after purchasing an additional 881 shares during the period. Finally, Resonant Capital Advisors LLC grew its position in Northern Trust by 5.5% during the first quarter. Resonant Capital Advisors LLC now owns 22,362 shares of the asset manager's stock worth $2,221,000 after buying an additional 1,173 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Down 2.0%

NTRS traded down $2.54 during trading on Tuesday, hitting $125.96. The stock had a trading volume of 1,726,684 shares, compared to its average volume of 1,435,815. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00. The stock has a 50 day simple moving average of $109.94 and a two-hundred day simple moving average of $104.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $24.50 billion, a PE ratio of 11.75, a PEG ratio of 1.97 and a beta of 1.26.

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

Northern Trust Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on NTRS. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Citigroup cut their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Wells Fargo & Company cut their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley boosted their target price 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. Finally, Bank of America decreased their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $114.67.

Insider Activity at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the company'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 transaction, the insider owned 79,391 shares in the company, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president owned 28,736 shares of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by insiders.

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.