Saudi Central Bank Has $2.14 Million Position in Northern Trust Corporation $NTRS

Saudi Central Bank boosted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 76.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,306 shares of the asset manager’s stock after acquiring an additional 5,325 shares during the period. Saudi Central Bank’s holdings in Northern Trust were worth $2,139,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NTRS. Goldman Sachs Group Inc. grew its position in shares of 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 during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after acquiring an additional 170,745 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised 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 purchasing an additional 38,600 shares during the last quarter. Bank of America Corp DE raised its position in Northern Trust by 5.6% in the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock valued at $86,931,000 after buying an additional 33,029 shares during the last quarter. Finally, North Dakota State Investment Board purchased a new stake in Northern Trust in the 4th quarter valued at $890,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

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

Wall Street Analyst Weigh In

NTRS has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Barclays boosted their price target on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Truist Financial boosted their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.68.

Northern Trust Price Performance

NTRS stock opened at $186.63 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The firm has a 50-day moving average of $184.11 and a 200 day moving average of $166.26. The company has a market cap of $34.15 billion, a P/E ratio of 16.02, a PEG ratio of 1.05 and a beta of 1.24.

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

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 30.21%.

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.