Bank of New York Mellon Corp Raises Stock Position in Northern Trust Corporation (NASDAQ:NTRS)

Bank of New York Mellon Corp lifted its position 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 Securities and Exchange Commission (SEC). The institutional investor owned 1,810,816 shares of the asset manager's stock after acquiring an additional 585,992 shares during the period. Bank of New York Mellon Corp owned about 0.93% of Northern Trust worth $178,637,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Northern Trust in the first quarter worth approximately $35,000. IFM Investors Pty Ltd boosted its holdings in shares of Northern Trust by 8.7% during the first quarter. IFM Investors Pty Ltd now owns 47,938 shares of the asset manager's stock worth $4,316,000 after purchasing an additional 3,834 shares during the period. OneDigital Investment Advisors LLC boosted its holdings 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 boosted its holdings 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 boosted its holdings in shares of 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 purchasing an additional 1,173 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Price Performance

NTRS stock traded up $0.80 during trading on Wednesday, reaching $126.76. 171,855 shares of the company were exchanged, compared to its average volume of 1,433,772. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00. The company has a 50-day moving average of $110.58 and a two-hundred day moving average of $104.96. The company has a market capitalization of $24.66 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.92 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. As a group, equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share 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 issued 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 2.37%. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Insider Activity

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction that occurred 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 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 sold 9,772 shares of company stock valued at $981,069 in the last quarter. Corporate insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTRS. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Citigroup reduced their price objective on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Evercore ISI boosted their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group boosted their target price 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 raised their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $114.67.

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.