Blueshift Asset Management LLC Acquires New Stake in Northern Trust Corporation (NASDAQ:NTRS)

Blueshift Asset Management LLC bought a new position in Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,531 shares of the asset manager’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. Ellevest Inc. increased its position in shares of Northern Trust by 3.4% in the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager’s stock worth $350,000 after purchasing an additional 113 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Northern Trust by 0.5% in the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager’s stock worth $3,755,000 after buying an additional 172 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Northern Trust by 1.7% during the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager’s stock valued at $1,073,000 after buying an additional 179 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager’s stock valued at $175,000 after buying an additional 182 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 28,736 shares of the company’s stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,772 shares of company stock worth $981,069. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Trading Down 2.3%

NASDAQ:NTRS opened at $127.06 on Friday. The firm has a market capitalization of $24.30 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.73 and a beta of 1.28. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $119.53 and a 200 day moving average of $108.03. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.34 earnings per share. On average, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a $0.80 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio is 35.25%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research note on Wednesday, July 2nd. Barclays increased their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Truist Financial boosted their target price on Northern Trust from $116.00 to $126.00 and gave the stock a “hold” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $116.58.

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.