22,366 Shares in Northern Trust Corporation $NTRS Purchased by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,366 shares of the asset manager’s stock, valued at approximately $3,888,000.

Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Northern Trust by 1,838.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after acquiring an additional 170,745 shares in the last quarter. 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 worth $395,395,000 after purchasing an additional 161,826 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Northern Trust by 17.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 256,700 shares of the asset manager’s stock valued at $35,063,000 after buying an additional 38,600 shares in the last quarter. North Dakota State Investment Board purchased a new position in Northern Trust in the 4th quarter valued at approximately $890,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Northern Trust in the first quarter valued at $2,303,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Down 1.6%

Shares of NASDAQ:NTRS opened at $182.68 on Wednesday. The firm has a market cap of $33.42 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.24. The company has a fifty day simple moving average of $183.19 and a 200 day simple moving average of $165.13. 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 12-month low of $121.12 and a 12-month high of $195.78.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company posted $2.13 earnings per share. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm 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 $0.88 dividend. 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 an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is 27.47%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a report on Wednesday, July 22nd. Finally, Barclays boosted their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $180.68.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were 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 of the company’s stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.66% of the company’s stock.

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.