Bank of New York Mellon Corp Acquires 585,992 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Bank of New York Mellon Corp grew its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 47.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,810,816 shares of the asset manager's stock after buying an additional 585,992 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Northern Trust worth $178,637,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Colonial Trust Co SC grew its stake in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after purchasing an additional 256 shares during the period. Continuum Advisory LLC grew its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Northern Trust in the 1st quarter valued at approximately $35,000. Assetmark Inc. grew its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in Northern Trust during the 4th quarter worth $44,000. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of the company's stock in a transaction dated 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 owned 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

NTRS has been the topic of several research reports. Evercore ISI upped their price objective on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods cut shares of Northern Trust from a "market perform" rating to an "underperform" rating and upped their price objective for the company from $103.00 to $120.00 in a research report on Friday. 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 dropped their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price target on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus price target of $114.50.

Northern Trust Price Performance

NTRS traded down $0.71 during trading on Friday, hitting $125.91. 1,459,833 shares of the stock traded hands, compared to its average volume of 1,445,541. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.83 and a beta of 1.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day moving average price of $111.87 and a 200 day moving average price of $105.28.

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, topping analysts' consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion for 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%. Equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a $0.75 dividend. The ex-dividend date of this dividend 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 27.99%.

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.