M&G PLC Has $897,000 Stock Position in Northern Trust Corporation $NTRS

M&G PLC cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 34.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,061 shares of the asset manager’s stock after selling 3,647 shares during the period. M&G PLC’s holdings in Northern Trust were worth $897,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NTRS. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust during the first quarter worth $29,000. GFG Capital LLC bought a new stake in Northern Trust during the second quarter worth $35,000. Finally, Harbor Investment Advisory LLC raised its position 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 acquiring an additional 130 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value 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. The trade was a 36.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Wells Fargo & Company raised their target price on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. BMO Capital Markets started coverage on Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target on the stock. Citigroup upped their price objective on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, Truist Financial cut their price objective on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $132.46.

Northern Trust Trading Down 2.6%

Shares of NTRS stock opened at $128.91 on Friday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The company has a market capitalization of $24.38 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. The firm has a 50 day moving average price of $129.26 and a two-hundred day moving average price of $121.89. 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 (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. As a group, analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

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

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.