Intech Investment Management LLC Increases Position in Northern Trust Corporation $NTRS

Intech Investment Management LLC lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,908 shares of the asset manager’s stock after purchasing an additional 4,147 shares during the quarter. Intech Investment Management LLC’s holdings in Northern Trust were worth $3,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its stake in shares of Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Northern Trust in the third quarter worth $2,253,000. Cinctive Capital Management LP increased its stake in shares of Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock worth $3,895,000 after purchasing an additional 15,398 shares in the last quarter. Barclays PLC increased its stake in shares of Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after purchasing an additional 400,247 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its stake in shares of Northern Trust by 119.9% in the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock worth $11,195,000 after purchasing an additional 45,356 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The shares were 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 $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the purchase, the director directly 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 disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 29,064 shares of company stock valued at $4,682,064. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTRS shares. Royal Bank Of Canada increased their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup assumed coverage on shares of Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Barclays raised their target price on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $164.08.

Northern Trust Stock Performance

NTRS opened at $168.34 on Tuesday. Northern Trust Corporation has a fifty-two week low of $104.99 and a fifty-two week high of $173.18. The stock has a market capitalization of $31.15 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.18 and a beta of 1.25. The company has a fifty day moving average of $156.95 and a 200 day moving average of $146.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $1.90 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

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.