Eurizon Capital SGR S.p.A. Purchases Shares of 925,694 Northern Trust Corporation $NTRS

Eurizon Capital SGR S.p.A. purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 925,694 shares of the asset manager’s stock, valued at approximately $126,794,000.

Other large investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock valued at $6,595,000 after purchasing an additional 26,594 shares during the period. Bank of New York Mellon Corp boosted its stake in Northern Trust by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after purchasing an additional 40,048 shares during the period. iSAM Funds UK Ltd bought a new position in shares of Northern Trust during the 3rd quarter valued at approximately $2,253,000. Cinctive Capital Management LP boosted its position in shares of Northern Trust by 113.7% during the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after acquiring an additional 15,398 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Northern Trust by 62.4% during the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after acquiring an additional 400,247 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Citigroup assumed coverage on Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Barclays increased their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $164.08.

Northern Trust Stock Performance

NTRS stock opened at $165.45 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $156.30 and its two-hundred day simple moving average is $145.90. Northern Trust Corporation has a twelve month low of $104.99 and a twelve month high of $173.18. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.21 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Insiders Place Their Bets

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,064 shares of company stock worth $4,682,064. 0.66% of the stock is currently owned by company insiders.

Northern Trust Company 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.