Y Intercept Hong Kong Ltd Boosts Stock Position in Northern Trust Corporation $NTRS

Y Intercept Hong Kong Ltd grew its position in Northern Trust Corporation (NASDAQ:NTRS) by 23.0% during the first quarter, Holdings Channel reports. The firm owned 55,546 shares of the asset manager’s stock after acquiring an additional 10,399 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Northern Trust were worth $7,753,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Triumph Capital Management purchased a new stake in Northern Trust in the third quarter valued at approximately $25,000. Reflection Asset Management purchased a new position in Northern Trust during the 4th quarter worth approximately $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust in the 4th quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Northern Trust in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $176.50 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day moving average price of $168.93 and a 200-day moving average price of $153.24. Northern Trust Corporation has a 1-year low of $118.99 and a 1-year high of $178.70. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Northern Trust Corporation will post 11.21 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were given a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Analysts Set New Price Targets

NTRS has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. UBS Group set a $186.00 price target on shares of Northern Trust in a report on Friday, June 26th. JPMorgan Chase & Co. increased their price target on Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. 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. Finally, Citigroup boosted their price objective on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.69.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz acquired 225 shares of the business’s stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,800 shares of company stock worth $3,785,251. Company insiders own 0.66% of the company’s stock.

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.