Meiji Yasuda Asset Management Co Ltd. bought a new position in Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,816 shares of the asset manager’s stock, valued at approximately $663,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC raised its stake in shares of Northern Trust by 1.3% during the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after acquiring an additional 61 shares in the last quarter. CWS Financial Advisors LLC boosted its stake in shares of Northern Trust by 2.0% in the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Northern Trust by 16.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. grew its holdings in shares of Northern Trust by 4.7% during the 1st quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 79 shares during the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Northern Trust by 3.2% during the 1st quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Insider Buying and Selling
In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is owned by corporate insiders.
Northern Trust Stock Up 0.1%
Northern Trust (NASDAQ:NTRS – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company posted $2.13 EPS. Northern Trust’s quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current year.
Northern Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is currently 27.47%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NTRS. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Finally, UBS Group set a $186.00 target price on Northern Trust in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $180.68.
Read Our Latest Analysis on NTRS
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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