Northern Trust Corporation (NASDAQ:NTRS) Shares Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. boosted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,767 shares of the asset manager’s stock after acquiring an additional 5,083 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Northern Trust were worth $4,022,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NTRS. Vestcor Inc raised its stake in Northern Trust by 30.3% during the first quarter. Vestcor Inc now owns 4,186 shares of the asset manager’s stock valued at $413,000 after buying an additional 973 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Northern Trust by 9.4% during the 1st quarter. Federated Hermes Inc. now owns 479,746 shares of the asset manager’s stock valued at $47,327,000 after acquiring an additional 41,162 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Northern Trust by 2.6% during the first quarter. Mackenzie Financial Corp now owns 31,774 shares of the asset manager’s stock worth $3,135,000 after purchasing an additional 792 shares during the last quarter. First National Advisers LLC acquired a new position in Northern Trust in the first quarter worth $280,000. Finally, LPL Financial LLC increased its stake in Northern Trust by 48.4% during the first quarter. LPL Financial LLC now owns 67,068 shares of the asset manager’s stock valued at $6,616,000 after purchasing an additional 21,884 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.1%

Shares of NTRS stock opened at $131.56 on Thursday. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00. The firm has a market capitalization of $25.59 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The stock has a fifty day moving average of $118.64 and a two-hundred day moving average of $107.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.34 earnings per share. As a group, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 5th. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.43%. Northern Trust’s dividend payout ratio (DPR) is 35.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research report on Wednesday, July 2nd. Evercore ISI raised their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Barclays raised their price target on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the stock an “outperform” rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.58.

Insider Buying and Selling

In other news, EVP Clive Bellows sold 3,300 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president owned 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider owned 79,391 shares of the company’s stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,772 shares of company stock worth $981,069 in the last quarter. Company insiders own 0.77% of the company’s stock.

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.