Martingale Asset Management L P Has $20.58 Million Stock Position in Northern Trust Corporation $NTRS

Martingale Asset Management L P boosted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 208,592 shares of the asset manager’s stock after acquiring an additional 9,785 shares during the quarter. Martingale Asset Management L P’s holdings in Northern Trust were worth $20,578,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Capital Fund Management S.A. increased its position in Northern Trust by 168.8% during the 1st quarter. Capital Fund Management S.A. now owns 140,764 shares of the asset manager’s stock worth $13,886,000 after purchasing an additional 88,402 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Northern Trust during the first quarter worth $256,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Northern Trust by 3.6% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 37,798 shares of the asset manager’s stock worth $3,729,000 after acquiring an additional 1,307 shares during the last quarter. Hsbc Holdings PLC raised its position in Northern Trust by 11.5% in the first quarter. Hsbc Holdings PLC now owns 455,239 shares of the asset manager’s stock valued at $44,668,000 after purchasing an additional 46,877 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Northern Trust by 15.5% during the first quarter. Korea Investment CORP now owns 191,795 shares of the asset manager’s stock valued at $18,921,000 after purchasing an additional 25,678 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $127.88 on Thursday. The firm has a market capitalization of $24.45 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.51 and a beta of 1.28. The firm’s 50-day moving average price is $124.51 and its 200-day moving average price is $109.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm’s revenue was down 26.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.34 EPS. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s payout ratio is currently 35.25%.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an “outperform” rating in a report on Monday, June 30th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Evercore ISI lifted their price target 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. Morgan Stanley raised their target price on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Finally, Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Reduce” and an average price target of $117.08.

Northern Trust Company 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.