Northern Trust Corporation (NASDAQ:NTRS) Shares Purchased by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners LLC significantly increased its stake in Northern Trust Corporation by 492.9%, owning 11,680 shares valued at approximately $1.15 million following the purchase of 9,710 additional shares.
• Insider trading reports indicate that executives Teresa Parker and Clive Bellows sold 6,467 and 3,300 shares respectively, resulting in a decrease in their ownership positions by 7.53% and 10.30%.
• Northern Trust declared an increase in its quarterly dividend from $0.75 to $0.80, expected to be paid on October 1st, which reflects an annualized yield of 2.46%.

Marietta Investment Partners LLC boosted its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 492.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,680 shares of the asset manager's stock after purchasing an additional 9,710 shares during the quarter. Marietta Investment Partners LLC's holdings in Northern Trust were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after purchasing an additional 585,992 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after purchasing an additional 6,570 shares during the period. Allianz Asset Management GmbH grew its holdings in Northern Trust by 529.4% in the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock valued at $45,515,000 after purchasing an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC grew its holdings in Northern Trust by 96.7% in the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock valued at $517,000 after purchasing an additional 2,575 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was 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 $7,988,322.42. This represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the company'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 value of $329,835.00. Following the completion of the transaction, the executive vice president owned 28,736 shares of the company's stock, valued at approximately $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 90 days, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a report on Thursday. Evercore ISI boosted their target price on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. 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, Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $116.58.

Northern Trust Stock Up 1.0%

NASDAQ NTRS opened at $130.03 on Friday. The stock has a market cap of $25.30 billion, a PE ratio of 15.28, a P/E/G ratio of 1.89 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. The business has a 50 day moving average price of $117.19 and a two-hundred day moving average price of $107.04. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. Northern Trust's quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.34 EPS. As a group, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, September 5th. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is currently 37.60%.

Northern Trust 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.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.