Northern Trust Corporation $NTRS Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 51.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,879 shares of the asset manager’s stock after purchasing an additional 3,718 shares during the period. Chicago Partners Investment Group LLC’s holdings in Northern Trust were worth $1,518,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Triumph Capital Management acquired a new stake in Northern Trust during the third quarter worth about $25,000. Reflection Asset Management bought a new position in Northern Trust in the fourth quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in Northern Trust in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new position in Northern Trust in the fourth quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 24th. UBS Group set a $186.00 price objective on Northern Trust in a research report on Friday, June 26th. Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Barclays increased their target price on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $178.75.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $186.64 on Wednesday. The firm’s 50 day moving average is $171.38 and its two-hundred day moving average is $155.48. Northern Trust Corporation has a 52 week low of $118.99 and a 52 week high of $188.50. The firm has a market capitalization of $34.54 billion, a P/E ratio of 19.54, a PEG ratio of 1.17 and a beta of 1.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Analysts anticipate that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.7%. Northern Trust’s payout ratio is presently 33.51%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock valued at $3,785,251 in the last quarter. Corporate 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.