MV Capital Management Inc. Raises Stake in Northern Trust Corporation $NTRS

MV Capital Management Inc. lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 47.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303 shares of the asset manager’s stock after purchasing an additional 420 shares during the period. MV Capital Management Inc.’s holdings in Northern Trust were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in shares of Northern Trust by 84.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager’s stock valued at $199,000 after buying an additional 719 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Northern Trust by 73.6% in the first quarter. Envestnet Asset Management Inc. now owns 177,308 shares of the asset manager’s stock valued at $17,491,000 after buying an additional 75,185 shares during the last quarter. Horizon Investment Services LLC boosted its position in Northern Trust by 260.5% in the first quarter. Horizon Investment Services LLC now owns 35,101 shares of the asset manager’s stock valued at $3,463,000 after buying an additional 25,363 shares during the last quarter. Finally, First Pacific Financial acquired a new position in Northern Trust in the 2nd quarter worth approximately $3,118,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $132.40 on Thursday. The stock has a market capitalization of $25.04 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. The business has a 50 day simple moving average of $129.27 and a 200-day simple moving average of $121.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm earned $2.22 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 3,891 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTRS shares. Citigroup increased their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Wall Street Zen cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. TD Cowen increased their price target on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley boosted their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust 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.