Sumitomo Mitsui Trust Group Inc. Increases Holdings in Northern Trust Corporation $NTRS

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 454,038 shares of the asset manager’s stock after buying an additional 5,323 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Northern Trust worth $57,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in Northern Trust during the second quarter worth $25,000. GFG Capital LLC purchased a new stake in Northern Trust during the second quarter worth $35,000. Zions Bancorporation National Association UT purchased a new stake in Northern Trust during the first quarter worth $29,000. Harbor Investment Advisory LLC lifted its holdings in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after buying an additional 130 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Northern Trust during the first quarter worth $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NTRS. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the stock an “outperform” rating in a report on Monday, June 30th. The Goldman Sachs Group set a $135.00 price target on Northern Trust in a research report on Tuesday, September 30th. Evercore ISI upped their price target on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company upped their price target on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Citigroup upped their price target on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus price target of $130.71.

Northern Trust Stock Performance

Shares of NTRS stock opened at $126.03 on Monday. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72. The business has a fifty day moving average of $129.59 and a 200 day moving average of $118.29. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48.

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

Northern Trust Announces Dividend

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

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company 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.