111 Capital Makes New Investment in Northern Trust Corporation $NTRS

111 Capital purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 5,573 shares of the asset manager’s stock, valued at approximately $707,000.

Several other hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its position 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 acquiring an additional 363,472 shares during the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after acquiring an additional 558,287 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Northern Trust by 0.7% in the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after acquiring an additional 20,010 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Northern Trust by 47.8% in the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Northern Trust by 6.6% in the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock worth $150,197,000 after acquiring an additional 72,867 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday. They set a “market perform” rating and a $142.00 price target on the stock. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $128.23.

Northern Trust Stock Down 0.6%

Shares of NASDAQ:NTRS opened at $132.40 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $129.46 and a 200 day simple moving average of $114.69. The firm has a market cap of $25.32 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48.

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

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a $0.80 dividend. 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 yield of 2.4%. The ex-dividend date of this dividend was Friday, September 5th. Northern Trust’s dividend payout ratio is presently 37.60%.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Company 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.