Northern Trust Corporation $NTRS Position Boosted by LSV Asset Management

LSV Asset Management lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 154.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 805,990 shares of the asset manager’s stock after purchasing an additional 488,690 shares during the period. LSV Asset Management owned about 0.42% of Northern Trust worth $102,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York Life Investment Management LLC boosted its holdings in Northern Trust by 0.3% during the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after buying an additional 80 shares in the last quarter. Welch Group LLC lifted its position in shares of Northern Trust by 2.8% during the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock valued at $400,000 after acquiring an additional 87 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Northern Trust by 9.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock worth $135,000 after acquiring an additional 88 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Northern Trust by 10.0% during the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock worth $131,000 after acquiring an additional 94 shares in the last quarter. Finally, Twin Capital Management Inc. grew its holdings in shares of Northern Trust by 0.5% in the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock worth $2,545,000 after acquiring an additional 94 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s 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 directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTRS. BMO Capital Markets assumed coverage on Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price for the company. The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a research note on Tuesday, September 30th. Morgan Stanley raised their target price on shares of Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Barclays lifted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust Stock Performance

NTRS stock opened at $122.72 on Tuesday. The firm has a 50 day simple moving average of $129.17 and a 200 day simple moving average of $122.72. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The stock has a market cap of $23.21 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last released 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. 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 quarter in the prior year, the firm earned $2.22 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

About Northern Trust

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.