EFG International AG bought a new position in Northern Trust Corporation (NASDAQ:NTRS – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,357 shares of the asset manager’s stock, valued at approximately $2,148,000.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Northern Trust during the second quarter worth approximately $2,523,781,000. State Street Corp boosted its holdings in shares of Northern Trust by 1.0% in the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after purchasing an additional 97,584 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Northern Trust in the 2nd quarter valued at $1,060,553,000. Invesco Ltd. grew its stake in shares of Northern Trust by 8.7% during the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after buying an additional 301,164 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after buying an additional 161,826 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on NTRS. Barclays increased their target price on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Bank of America boosted their price target on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Zacks Research upgraded 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 $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Finally, Truist Financial lifted their price objective on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $180.68.
Northern Trust Stock Performance
NASDAQ:NTRS opened at $187.66 on Thursday. The firm’s fifty day simple moving average is $182.29 and its 200 day simple moving average is $164.15. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The firm has a market capitalization of $34.33 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.05 and a beta of 1.25.
Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $2.13 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s payout ratio is 27.47%.
Insider Transactions at Northern Trust
In related news, Director Robert Edward Jr. Moritz bought 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is currently owned by company insiders.
Northern Trust 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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