MV Capital Management Inc. Has $165,000 Position in Northern Trust Corporation $NTRS

MV Capital Management Inc. grew its position in Northern Trust Corporation (NASDAQ:NTRS) by 47.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,303 shares of the asset manager’s stock after purchasing an additional 420 shares during the period. MV Capital Management Inc.’s holdings in Northern Trust were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Northern Trust during the 2nd quarter worth $25,000. Hantz Financial Services Inc. raised its holdings in Northern Trust by 5,225.0% during 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 position in Northern Trust in the first quarter valued at approximately $29,000. GFG Capital LLC bought a new stake in shares of Northern Trust during the second quarter worth $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 worth $41,000 after acquiring an additional 130 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on NTRS shares. Wall Street Zen lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Cowen reissued a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. Wells Fargo & Company raised their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a report on Tuesday, September 30th. Finally, Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.46.

Northern Trust Stock Up 1.6%

Shares of NASDAQ:NTRS opened at $132.40 on Thursday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72. The stock’s 50-day moving average is $129.27 and its 200 day moving average is $121.84. The company has a market cap of $25.04 billion, a PE ratio of 15.43, a P/E/G ratio of 1.37 and a beta of 1.32.

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

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

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.