Mach 1 Financial Group LLC Buys Shares of 4,765 Northern Trust Corporation $NTRS

Mach 1 Financial Group LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,765 shares of the asset manager’s stock, valued at approximately $651,000.

Other hedge funds also recently modified their holdings of the company. CWM LLC grew its stake in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after acquiring an additional 26,594 shares during the period. Bank of New York Mellon Corp raised its stake in Northern Trust by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after acquiring an additional 40,048 shares during the period. iSAM Funds UK Ltd purchased a new stake in Northern Trust during the third quarter valued at about $2,253,000. Cinctive Capital Management LP boosted its position in Northern Trust by 113.7% during the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock worth $3,895,000 after purchasing an additional 15,398 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock worth $11,195,000 after purchasing an additional 45,356 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 225 shares of the stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Guy Gibson sold 3,009 shares of Northern Trust stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $142.39, for a total value of $428,451.51. Following the sale, the insider owned 29,332 shares of the company’s stock, valued at approximately $4,176,583.48. This trade represents a 9.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,514 shares of company stock worth $4,890,937 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NTRS shares. Citigroup started coverage on shares of Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Truist Financial raised their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada increased their target price on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $164.08.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $167.11 on Friday. The company has a 50 day moving average of $152.62 and a 200 day moving average of $144.35. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a market cap of $30.92 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.19 and a beta of 1.27. Northern Trust Corporation has a 12 month low of $104.09 and a 12 month 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 (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS. As a group, sell-side analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

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.