JPMorgan Chase & Co. Sells 1,534,016 Shares of Northern Trust Corporation $NTRS

JPMorgan Chase & Co. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 57.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,158,581 shares of the asset manager’s stock after selling 1,534,016 shares during the period. JPMorgan Chase & Co.’s holdings in Northern Trust were worth $155,950,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTRS. Vanguard Group Inc. lifted its stake in shares of Northern Trust by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock worth $2,864,652,000 after purchasing an additional 188,472 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Northern Trust by 19.5% during the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after buying an additional 1,270,748 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Northern Trust by 3.7% during the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after buying an additional 184,726 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Northern Trust by 1.7% in the 2nd quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock valued at $443,971,000 after buying an additional 58,029 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Northern Trust in the 2nd quarter worth approximately $276,087,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NTRS shares. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Evercore raised their price objective on Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. Morgan Stanley upped their target price on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Finally, TD Cowen boosted their price target on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $148.75.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the purchase, the director directly owned 3,332 shares of the company’s stock, valued at $496,168.12. The trade was a 42.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz bought 245 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were acquired at an average price of $151.85 per share, with a total value of $37,203.25. Following the completion of the transaction, the director directly owned 6,931 shares of the company’s stock, valued at $1,052,472.35. This trade represents a 3.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 27,191 shares of company stock worth $4,061,028. Company insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $144.76 on Friday. 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 stock has a 50-day moving average of $144.89 and a two-hundred day moving average of $134.84. The stock has a market cap of $27.38 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.16 and a beta of 1.27. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60.

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

Northern Trust Dividend Announcement

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

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.