Northern Trust Corporation $NTRS Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP raised its stake in Northern Trust Corporation (NASDAQ:NTRS) by 113.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,939 shares of the asset manager’s stock after purchasing an additional 15,398 shares during the quarter. Cinctive Capital Management LP’s holdings in Northern Trust were worth $3,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NTRS. Empowered Funds LLC grew its position in Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after buying an additional 2,363 shares during the last quarter. Woodline Partners LP raised its position in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Northern Trust by 43.2% in the 2nd quarter. Allworth Financial LP now owns 1,051 shares of the asset manager’s stock worth $133,000 after acquiring an additional 317 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Northern Trust by 2.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 29,705 shares of the asset manager’s stock worth $3,766,000 after acquiring an additional 687 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in shares of Northern Trust in the second quarter valued at about $29,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard Petrino acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average cost of $148.91 per share, with a total value of $148,910.00. Following the purchase, the director directly owned 3,332 shares of the company’s stock, valued at approximately $496,168.12. This trade represents a 42.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total value of $468,361.95. Following the transaction, the chief financial officer directly owned 14,552 shares of the company’s stock, valued at approximately $2,093,887.28. This represents a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,905 shares of company stock worth $5,166,714. 0.77% of the stock is owned by insiders.

Northern Trust Stock Down 0.3%

Shares of NASDAQ NTRS opened at $136.92 on Monday. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The firm has a 50-day moving average price of $145.66 and a 200 day moving average price of $136.37. 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 earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share 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 company had revenue of $3.15 billion for the quarter. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. Northern Trust’s payout ratio is 36.61%.

Analyst Ratings Changes

NTRS has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Royal Bank Of Canada lifted their price objective on Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. The Goldman Sachs Group boosted their target price on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. TD Cowen increased their target price on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.