Strs Ohio grew its stake in Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,430 shares of the asset manager’s stock after purchasing an additional 25,027 shares during the quarter. Strs Ohio’s holdings in Northern Trust were worth $22,531,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Empowered Funds LLC lifted its stake in Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP increased its stake in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Northern Trust during the second quarter valued at approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after acquiring an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Northern Trust Stock Performance
Shares of NTRS stock opened at $176.50 on Friday. Northern Trust Corporation has a 1-year low of $118.99 and a 1-year high of $178.70. The firm has a market cap of $32.66 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company has a 50-day moving average of $168.93 and a two-hundred day moving average of $153.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.
Northern Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s payout ratio is presently 33.51%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Morgan Stanley raised their price objective on Northern Trust from $157.00 to $170.00 and gave the company an “underweight” rating in a report on Monday. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. The Goldman Sachs Group increased their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $170.69.
Get Our Latest Stock Analysis on Northern Trust
Insiders Place Their Bets
In other news, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 22,800 shares of company stock worth $3,785,251 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.
About Northern Trust
Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.
Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.
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