Mach 1 Financial Group LLC Invests $651,000 in Northern Trust Corporation $NTRS

Mach 1 Financial Group LLC bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,765 shares of the asset manager’s stock, valued at approximately $651,000.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after buying an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in Northern Trust in the 3rd quarter worth approximately $2,253,000. Cinctive Capital Management LP boosted its stake in Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock worth $3,895,000 after buying an additional 15,398 shares in the last quarter. Finally, Barclays PLC boosted its stake in Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after buying an additional 400,247 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $167.11 on Friday. The firm has a market cap of $30.92 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.19 and a beta of 1.27. Northern Trust Corporation has a fifty-two week low of $104.09 and a fifty-two week high of $173.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The business has a 50 day moving average price of $152.62 and a 200-day moving average price of $144.35.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada upped their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research report on Monday, April 6th. Citigroup initiated coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Barclays upped their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $164.08.

Insider Activity

In other news, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 225 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 30,514 shares of company stock valued at $4,890,937. 0.66% of the stock is currently owned by 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.