Northern Trust Corporation $NTRS Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 44.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,537 shares of the asset manager’s stock after acquiring an additional 7,603 shares during the quarter. NEOS Investment Management LLC’s holdings in Northern Trust were worth $3,303,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Northern Trust by 0.8% in the second quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after buying an additional 188,472 shares in the last quarter. Primecap Management Co. CA grew its stake in Northern Trust by 19.5% in the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after acquiring an additional 1,270,748 shares during the period. Geode Capital Management LLC increased its holdings in Northern Trust by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock worth $656,229,000 after acquiring an additional 184,726 shares in the last quarter. Invesco Ltd. increased its holdings in Northern Trust by 1.7% in the 2nd quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock worth $443,971,000 after acquiring an additional 58,029 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Northern Trust by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock worth $341,399,000 after acquiring an additional 33,227 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 1.7%

Shares of Northern Trust stock opened at $145.02 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market capitalization of $27.43 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 1.27. The stock has a 50 day moving average of $144.77 and a 200 day moving average of $134.66.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 6th. Northern Trust’s dividend payout ratio is currently 36.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NTRS. TD Cowen lifted their target price on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Barclays boosted their price objective on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Royal Bank Of Canada lifted their price target on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company increased their price objective on shares of Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $148.75.

Insider Activity

In other Northern Trust news, insider Clive Bellows sold 1,148 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total value of $166,758.48. Following the sale, the insider owned 34,133 shares of the company’s stock, valued at $4,958,159.58. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Edward Jr. Moritz acquired 245 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was purchased at an average cost of $151.85 per share, with a total value of $37,203.25. Following the completion of the purchase, the director directly owned 6,931 shares of the company’s stock, valued at approximately $1,052,472.35. This represents a 3.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 27,191 shares of company stock worth $4,061,028 in the last three months. 0.77% of the stock is currently owned by corporate insiders.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.