Machina Capital S.A.S. grew its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 42.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,813 shares of the asset manager’s stock after acquiring an additional 8,020 shares during the quarter. Machina Capital S.A.S.’s holdings in Northern Trust were worth $4,541,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NTRS. BlackRock Inc. bought a new position in shares of Northern Trust during the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA purchased a new position in Northern Trust in the 2nd quarter worth $1,060,553,000. Bank of New York Mellon Corp bought a new stake in Northern Trust in the second quarter worth $361,079,000. Legal & General Group Plc bought a new stake in Northern Trust in the second quarter worth $207,054,000. Finally, Man Group plc bought a new stake in Northern Trust in the second quarter worth $147,718,000. 83.19% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Susan Levy sold 3,922 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $168.69, for a total transaction of $661,602.18. Following the completion of the sale, the executive vice president directly owned 59,378 shares in the company, valued at approximately $10,016,474.82. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Moritz, Jr. bought 236 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were purchased at an average price of $169.07 per share, with a total value of $39,900.52. Following the completion of the acquisition, the director owned 8,636 shares of the company’s stock, valued at $1,460,088.52. This trade represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,706 shares of company stock valued at $3,850,282 in the last quarter. Insiders own 0.66% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on NTRS. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $175.00 to $170.00 in a research report on Thursday, October 8th. Capital One Financial set a $190.00 price objective on Northern Trust in a report on Tuesday, October 6th. Citigroup lowered their target price on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, October 23rd. Weiss Ratings raised Northern Trust from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, November 4th. Finally, TD Cowen began coverage on Northern Trust in a report on Thursday, October 8th. They set a “hold” rating and a $175.00 target price for the company. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $181.03.
Northern Trust Stock Up 0.5%
Shares of Northern Trust stock opened at $178.71 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.61 and a current ratio of 0.61. Northern Trust Corporation has a 52-week low of $121.53 and a 52-week high of $195.78. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.90 and a beta of 1.21. The company’s 50 day moving average price is $173.79 and its 200-day moving average price is $166.42.
Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts forecast that Northern Trust Corporation will post 12.06 EPS for the current year.
Northern Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 4th. Northern Trust’s dividend payout ratio (DPR) is 27.59%.
Northern Trust Profile
Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families. The company’s businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning. Northern Trust serves clients in the United States and internationally, with operations across multiple regions.
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