Northern Trust Corporation (NASDAQ:NTRS) Stock Holdings Boosted by Amalgamated Bank

Amalgamated Bank lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,065 shares of the asset manager’s stock after buying an additional 172 shares during the period. Amalgamated Bank’s holdings in Northern Trust were worth $3,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Northern Trust by 4,790.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 113,503 shares of the asset manager’s stock worth $11,197,000 after purchasing an additional 111,182 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $7,437,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after purchasing an additional 8,102 shares in the last quarter. Finally, Alta Wealth Advisors LLC acquired a new stake in Northern Trust during the first quarter valued at approximately $413,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 0.3%

Northern Trust stock opened at $131.71 on Friday. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00. 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 firm has a market cap of $25.62 billion, a PE ratio of 12.29, a P/E/G ratio of 1.99 and a beta of 1.26. The firm’s 50 day moving average price is $108.42 and its two-hundred day moving average price is $104.38.

Northern Trust (NASDAQ:NTRS) last posted its quarterly 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 business had revenue of $1.95 billion for the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, June 6th. Northern Trust’s dividend payout ratio (DPR) is presently 27.99%.

Analyst Ratings Changes

Several research firms have issued reports on NTRS. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an “outperform” rating in a report on Monday. Citigroup decreased their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. The Goldman Sachs Group upped their target price on Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a report on Wednesday. Morgan Stanley lifted their price target on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.67.

Insider Activity

In related 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 sale, the insider directly 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 SEC, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by corporate 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.