179,971 Shares in Northern Trust Corporation $NTRS Purchased by Algebris UK Ltd.

Algebris UK Ltd. purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 179,971 shares of the asset manager’s stock, valued at approximately $24,594,000. Northern Trust comprises 1.2% of Algebris UK Ltd.’s portfolio, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triumph Capital Management acquired a new position in Northern Trust during the third quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in Northern Trust during the fourth quarter worth about $27,000. Elyxium Wealth LLC acquired a new position in Northern Trust during the fourth quarter worth about $34,000. International Assets Investment Management LLC acquired a new position in Northern Trust during the fourth quarter worth about $35,000. Finally, Olistico Wealth LLC acquired a new position in Northern Trust during the fourth quarter worth about $41,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTRS. Citigroup began coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Wells Fargo & Company boosted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada boosted their target price on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $164.08.

Insider Activity at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The stock was bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 30,514 shares of company stock valued at $4,890,937 over the last 90 days. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $165.96 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $30.71 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.18 and a beta of 1.27. The company’s 50-day moving average is $152.04 and its two-hundred day moving average is $144.08. Northern Trust Corporation has a 1-year low of $104.09 and a 1-year high of $173.18.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. Northern Trust’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 EPS. Analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s payout ratio is 33.51%.

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.