Inceptionr LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 10,987 shares of the asset manager’s stock, valued at approximately $1,501,000. Northern Trust accounts for 0.4% of Inceptionr LLC’s investment portfolio, making the stock its 28th largest holding.
Several other large investors have also recently made changes to their positions in NTRS. Norges Bank acquired a new position in shares of Northern Trust in the 4th quarter valued at $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Northern Trust in the 4th quarter valued at $126,794,000. Jupiter Asset Management Ltd. lifted its stake in shares of Northern Trust by 114.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock valued at $140,903,000 after purchasing an additional 549,681 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Northern Trust in the 4th quarter valued at $67,126,000. Finally, AQR Capital Management LLC lifted its stake in shares of Northern Trust by 67.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,019,531 shares of the asset manager’s stock valued at $136,750,000 after purchasing an additional 409,434 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NTRS has been the subject of several analyst reports. Royal Bank Of Canada boosted their target price on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Truist Financial upped their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $164.08.
Northern Trust Stock Performance
NASDAQ:NTRS opened at $166.13 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $161.46 and a two-hundred day moving average of $148.39. The stock has a market capitalization of $30.74 billion, a PE ratio of 17.40, a P/E/G ratio of 1.22 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $107.08 and a fifty-two week high of $173.66.
Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, research analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio is 33.51%.
Insider Activity
In other news, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,800 shares of company stock worth $3,785,251 over the last three months. Insiders own 0.66% of the company’s stock.
Northern Trust Company Profile
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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