Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Northern Trust Corporation $NTRS

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Northern Trust Corporation (NASDAQ:NTRS) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,524 shares of the asset manager’s stock after purchasing an additional 13,528 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Northern Trust were worth $47,106,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Invesco Ltd. raised its stake in Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after buying an additional 558,287 shares in the last quarter. RNC Capital Management LLC purchased a new position in shares of Northern Trust during the 1st quarter worth approximately $41,905,000. Nuveen LLC bought a new position in shares of Northern Trust in the 1st quarter worth approximately $41,834,000. Allianz Asset Management GmbH lifted its stake in shares of Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock valued at $45,515,000 after purchasing an additional 388,081 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock valued at $774,411,000 after purchasing an additional 363,472 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTRS shares. The Goldman Sachs Group set a $135.00 price objective on Northern Trust in a report on Tuesday, September 30th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Wells Fargo & Company boosted their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Citigroup upped their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Finally, Morgan Stanley lifted their target price on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a report on Monday, September 29th. 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’s stock. According to MarketBeat, Northern Trust currently has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Trading Up 0.1%

Shares of NASDAQ NTRS opened at $130.09 on Tuesday. The firm’s 50 day moving average price is $129.20 and its 200-day moving average price is $121.49. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The company has a market cap of $24.60 billion, a PE ratio of 15.16, a P/E/G ratio of 1.37 and a beta of 1.32.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data 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. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business earned $2.22 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

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

Insider Activity

In other Northern Trust news, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the acquisition, the director owned 6,686 shares in the company, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 4,417 shares of company stock valued at $566,807 over the last quarter. 0.77% of the stock is owned by corporate insiders.

Northern Trust Company 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.