Navellier & Associates Inc. Acquires Shares of 3,743 Northern Trust Corporation (NASDAQ:NTRS)

Navellier & Associates Inc. purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, HoldingsChannel.com reports. The fund purchased 3,743 shares of the asset manager’s stock, valued at approximately $364,000.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in 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 during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 worth $774,411,000 after buying an additional 363,472 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after buying an additional 6,570 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Northern Trust by 529.4% in the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after buying an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Northern Trust by 96.7% during the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock worth $517,000 after purchasing an additional 2,575 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

Northern Trust stock opened at $130.03 on Friday. The stock has a 50-day simple moving average of $117.19 and a 200 day simple moving average of $107.07. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $133.00. The stock has a market capitalization of $25.30 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.91 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.34 EPS. On average, research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 5th. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. Northern Trust’s dividend payout ratio is 35.25%.

Insider Transactions at Northern Trust

In other news, EVP Clive Bellows sold 3,300 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company’s stock, valued at $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider owned 79,391 shares of the company’s stock, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NTRS shares. Barclays raised their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI lifted their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research report on Wednesday, July 2nd. Truist Financial boosted their target price on shares of Northern Trust from $116.00 to $126.00 and gave the stock a “hold” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.58.

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.