Intech Investment Management LLC Boosts Holdings in Northern Trust Corporation $NTRS

Intech Investment Management LLC lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 143.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,761 shares of the asset manager’s stock after purchasing an additional 13,994 shares during the period. Intech Investment Management LLC’s holdings in Northern Trust were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after acquiring an additional 4,653 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Northern Trust by 17.1% in the second quarter. Envestnet Asset Management Inc. now owns 207,691 shares of the asset manager’s stock worth $26,333,000 after acquiring an additional 30,383 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Northern Trust during the second quarter worth approximately $247,000. Finally, Hantz Financial Services Inc. lifted its holdings in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Guy Gibson sold 1,043 shares of Northern Trust stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $147.43, for a total value of $153,769.49. Following the completion of the transaction, the insider directly owned 35,013 shares in the company, valued at approximately $5,161,966.59. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David W. Fox, Jr. sold 1,450 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $144.05, for a total value of $208,872.50. Following the transaction, the chief financial officer directly owned 20,162 shares of the company’s stock, valued at $2,904,336.10. The trade was a 6.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,641 shares of company stock valued at $4,269,900. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Up 1.5%

NASDAQ:NTRS opened at $145.23 on Tuesday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The stock’s fifty day moving average is $145.49 and its two-hundred day moving average is $135.65. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business had revenue of $3.15 billion for the quarter. During the same period in the prior year, the company posted $2.26 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.2%. Northern Trust’s dividend payout ratio is currently 36.61%.

Analyst Ratings Changes

NTRS has been the subject of a number of research reports. Truist Financial set a $148.00 target price on shares of Northern Trust in a report on Wednesday, January 7th. Barclays upped their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Royal Bank Of Canada raised their target price on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their price target on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $148.75.

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.