246,600 Shares in Northern Trust Corporation $NTRS Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 246,600 shares of the asset manager’s stock, valued at approximately $42,869,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Northern Trust during the second quarter worth about $2,523,781,000. State Street Corp increased its position in 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 acquiring an additional 97,584 shares during the period. Invesco Ltd. increased its position in Northern Trust by 8.7% in the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after acquiring an additional 301,164 shares during the period. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 161,826 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Northern Trust by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after acquiring an additional 36,322 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NTRS opened at $186.27 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. The company has a 50-day simple moving average of $182.57 and a 200-day simple moving average of $164.39. The company has a market capitalization of $34.08 billion, a PE ratio of 15.99, a P/E/G ratio of 1.06 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. Equities research analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a dividend of $0.88 per share. 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. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is 27.47%.

Analysts Set New Price Targets

NTRS has been the topic of several analyst reports. Evercore set a $179.00 target price on Northern Trust in a research note on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Citigroup increased their price target on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price objective on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, UBS Group set a $186.00 price objective on shares of Northern Trust in a research note on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $180.68.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the purchase, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas A. South sold 1,800 shares of the company’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 completion of the sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by insiders.

About Northern Trust

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.