Mount Lucas Management LP Increases Position in Northern Trust Corporation $NTRS

Mount Lucas Management LP boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 34.6% during the second quarter, HoldingsChannel.com reports. The firm owned 12,353 shares of the asset manager’s stock after purchasing an additional 3,173 shares during the period. Mount Lucas Management LP’s holdings in Northern Trust were worth $1,566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NTRS. Geode Capital Management LLC increased its position in shares of Northern Trust by 3.7% in the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after buying an additional 184,726 shares in the last quarter. Invesco Ltd. increased its holdings in Northern Trust by 19.3% in the 1st 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 in the last quarter. American Century Companies Inc. raised its position in Northern Trust by 0.7% during 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 period. Bank of New York Mellon Corp lifted its holdings in Northern Trust by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 1,907,408 shares of the asset manager’s stock valued at $241,840,000 after purchasing an additional 96,592 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in Northern Trust by 6.6% during the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after purchasing an additional 72,867 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

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

Northern Trust Stock Performance

NASDAQ NTRS opened at $127.39 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The stock’s fifty day moving average is $129.26 and its two-hundred day moving average is $122.53. The firm has a market capitalization of $24.09 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48.

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

Northern Trust Dividend Announcement

The company also recently announced 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 yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is presently 37.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTRS shares. TD Cowen boosted their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Morgan Stanley boosted their price objective on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Wells Fargo & Company raised their target price on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Evercore ISI boosted their price target on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Truist Financial reduced their price objective on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Five research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.46.

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.