Legal & General Group Plc Makes New Investment in Northern Trust Corporation $NTRS

Legal & General Group Plc acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,191,062 shares of the asset manager’s stock, valued at approximately $207,054,000. Legal & General Group Plc owned 0.65% of Northern Trust at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC increased its position in shares of Northern Trust by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 61 shares during the last quarter. CWS Financial Advisors LLC boosted its stake in Northern Trust by 2.0% during the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock worth $558,000 after buying an additional 77 shares during the period. SJS Investment Consulting Inc. raised its stake in shares of Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 79 shares during the period. Compound Planning Inc. lifted its holdings in shares of Northern Trust by 4.7% in the 1st quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after acquiring an additional 79 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in shares of Northern Trust by 3.2% during the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock valued at $372,000 after buying an additional 83 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

In other news, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz bought 255 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $187.66 on Thursday. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The company has a market cap of $34.33 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.05 and a beta of 1.25. The business’s 50 day moving average price is $182.29 and its 200 day moving average price is $164.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company earned $2.13 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, research analysts predict that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s payout ratio is currently 27.47%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTRS. Citigroup lifted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Truist Financial raised their price target on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Morgan Stanley lifted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Finally, Bank of America increased their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $180.68.

Northern Trust Company Profile

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.