Burney Co. Acquires New Position in Northern Trust Corporation $NTRS

Burney Co. bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 9,119 shares of the asset manager’s stock, valued at approximately $1,273,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after buying an additional 596 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Northern Trust during the second quarter valued at $267,000. Finally, Daiwa Securities Group Inc. increased its holdings in Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after buying an additional 1,275 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Trading Down 0.8%

Shares of Northern Trust stock opened at $179.92 on Thursday. Northern Trust Corporation has a 1-year low of $118.99 and a 1-year high of $182.26. The company’s fifty day simple moving average is $169.83 and its 200-day simple moving average is $154.24. 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 stock has a market capitalization of $33.29 billion, a PE ratio of 18.84, a P/E/G ratio of 1.23 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s dividend payout ratio is currently 33.51%.

Analysts Set New Price Targets

Several equities analysts have issued reports on NTRS shares. Royal Bank Of Canada upped their target price on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. 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 research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the company a “neutral” rating in a research report on Monday. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. Finally, BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $175.18.

Northern Trust 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.