MASTERINVEST Kapitalanlage GmbH Takes Position in Northern Trust Corporation $NTRS

MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,002 shares of the asset manager’s stock, valued at approximately $870,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Northern Trust in the fourth quarter valued at approximately $67,126,000. Northwestern Mutual Wealth Management Co. increased its stake in Northern Trust by 1,838.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after buying an additional 170,745 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after buying an additional 161,826 shares in the last quarter. Strs Ohio boosted its position in Northern Trust by 83.0% in the 4th quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock valued at $18,631,000 after buying an additional 61,858 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Northern Trust by 17.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 256,700 shares of the asset manager’s stock worth $35,063,000 after acquiring an additional 38,600 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Bank of America upped their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Truist Financial increased their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Citigroup boosted their price objective on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $180.68.

Insider Buying and Selling

In other news, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Edward Jr. Moritz bought 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Up 0.3%

Northern Trust stock opened at $186.79 on Friday. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $34.18 billion, a PE ratio of 16.03, a P/E/G ratio of 1.05 and a beta of 1.25. The stock’s fifty day moving average is $182.86 and its two-hundred day moving average is $164.55.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $2.13 EPS. Northern Trust’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

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.