OLD National Bancorp IN Buys 95 Shares of Northern Trust Corporation $NTRS

OLD National Bancorp IN grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,140 shares of the asset manager’s stock after buying an additional 95 shares during the period. OLD National Bancorp IN’s holdings in Northern Trust were worth $905,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock valued at $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after purchasing an additional 558,287 shares in the last quarter. American Century Companies Inc. increased its position in shares of Northern Trust by 0.7% during the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock valued at $297,245,000 after purchasing an additional 20,010 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock valued at $178,637,000 after buying an additional 585,992 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of Northern Trust by 6.6% during the 2nd quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after buying an additional 72,867 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $132.21 on Tuesday. The firm has a market cap of $25.28 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company’s fifty day simple moving average is $129.51 and its two-hundred day simple moving average is $115.04. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48.

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

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a $0.80 dividend. The ex-dividend date was Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio is 37.60%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the firm’s stock in a transaction that occurred on 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 $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTRS. Wells Fargo & Company increased their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a report on Saturday, September 27th. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. Morgan Stanley upped their price target on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Finally, TD Cowen initiated coverage on Northern Trust in a report on Thursday, September 25th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $128.23.

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.