Metis Global Partners LLC Has $1.34 Million Stock Holdings in Northern Trust Corporation $NTRS

Metis Global Partners LLC lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,580 shares of the asset manager’s stock after selling 1,206 shares during the period. Metis Global Partners LLC’s holdings in Northern Trust were worth $1,341,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NTRS. Wedbush Securities Inc. grew its position in shares of Northern Trust by 10.3% during the 2nd quarter. Wedbush Securities Inc. now owns 10,828 shares of the asset manager’s stock worth $1,373,000 after buying an additional 1,008 shares during the period. Twin Capital Management Inc. lifted its position in shares of Northern Trust by 0.5% during the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after acquiring an additional 94 shares during the period. Andra AP fonden bought a new position in Northern Trust during the second quarter worth $4,362,000. Resona Asset Management Co. Ltd. grew its holdings in Northern Trust by 6.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 67,331 shares of the asset manager’s stock worth $8,511,000 after purchasing an additional 4,201 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Northern Trust by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 1,907,408 shares of the asset manager’s stock valued at $241,840,000 after purchasing an additional 96,592 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTRS has been the subject of several research reports. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Cowen reiterated a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Barclays raised their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their target price on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $132.46.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have purchased 4,417 shares of company stock worth $566,807 over the last three months. 0.77% of the stock is owned by insiders.

Northern Trust Stock Up 0.1%

NTRS stock opened at $130.09 on Tuesday. The firm has a market capitalization of $24.60 billion, a PE ratio of 15.16, a P/E/G ratio of 1.37 and a beta of 1.32. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The stock’s 50 day moving average is $129.20 and its 200-day moving average is $121.49.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. Northern Trust’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio is currently 37.30%.

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.