Saturna Capital Corp Invests $211,000 in Northern Trust Corporation $NTRS

Saturna Capital Corp bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,667 shares of the asset manager’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTRS. FNY Investment Advisers LLC purchased a new position in Northern Trust during the second quarter worth about $25,000. Hantz Financial Services Inc. raised its position in 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 purchasing an additional 209 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust during the first quarter worth $29,000. Clearstead Trust LLC purchased a new stake in shares of Northern Trust in the 2nd quarter valued at $29,000. Finally, GFG Capital LLC acquired a new position in Northern Trust during the 2nd quarter worth about $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NTRS stock opened at $126.01 on Thursday. The stock’s 50-day moving average price is $129.06 and its 200 day moving average price is $122.94. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $23.83 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48.

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, beating 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 company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business posted $2.22 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Northern Trust Corporation will post 8.27 EPS 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 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio is presently 37.30%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Evercore ISI boosted their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. 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 note on Thursday, July 24th. Finally, Truist Financial cut their price target on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.46.

Insider Transactions at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of the firm’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 in the company, valued at $6,183,169.41. This trade represents a 36.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Landers sold 766 shares of Northern Trust stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. This represents a 9.48% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.77% of the company’s stock.

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.