Tobam Raises Stock Holdings in Northern Trust Corporation $NTRS

Tobam raised its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,928 shares of the asset manager’s stock after buying an additional 759 shares during the period. Tobam’s holdings in Northern Trust were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $25,000. Hantz Financial Services Inc. lifted its holdings in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after buying an additional 209 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust in the 1st quarter worth approximately $29,000. GFG Capital LLC purchased a new position in shares of Northern Trust during the second quarter valued at approximately $35,000. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director directly owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares in the company, valued at $6,183,169.41. This trade represents a 36.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Northern Trust Trading Up 0.2%

Northern Trust stock opened at $130.37 on Wednesday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. The business has a 50 day moving average price of $129.22 and a two-hundred day moving average price of $121.77. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.Northern Trust’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.22 earnings per share. As a group, equities analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s payout ratio is presently 37.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Wells Fargo & Company increased their price target on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 price objective on Northern Trust in a research report on Tuesday, September 30th. Citigroup raised their target price on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.