Encore Global Management LP Invests $3.36 Million in Northern Trust Corporation $NTRS

Encore Global Management LP bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 1st quarter, HoldingsChannel.com reports. The firm bought 24,075 shares of the asset manager’s stock, valued at approximately $3,360,000. Northern Trust accounts for about 2.3% of Encore Global Management LP’s portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. Empowered Funds LLC boosted 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 valued at $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP raised its stake in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Northern Trust in the second quarter valued at $267,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NTRS. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Monday, April 6th. The Goldman Sachs Group upped their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. UBS Group set a $186.00 price target on shares of Northern Trust in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research 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 assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.25.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $180.86 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60. The firm has a market capitalization of $33.47 billion, a P/E ratio of 15.52, a PEG ratio of 1.14 and a beta of 1.25. The company’s fifty day moving average is $175.47 and its two-hundred day moving average is $158.51.

Northern Trust Increases Dividend

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

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This represents a 2.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.