SYM FINANCIAL Corp Acquires New Position in Northern Trust Corporation $NTRS

SYM FINANCIAL Corp purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,761 shares of the asset manager’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock valued at $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after purchasing an additional 558,287 shares in the last quarter. American Century Companies Inc. boosted its holdings in Northern Trust by 0.7% in the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after acquiring an additional 20,010 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after purchasing an additional 585,992 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Northern Trust by 6.6% in the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after buying an additional 72,867 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $127.34 on Wednesday. The firm’s fifty day simple moving average is $129.57 and its 200 day simple moving average is $118.80. The stock has a market cap of $24.35 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.22 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust’s payout ratio is presently 37.30%.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 270 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $126.66 per share, with a total value of $34,198.20. Following the completion of the purchase, the director directly owned 2,795 shares of the company’s stock, valued at approximately $354,014.70. The trade was a 10.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company upped their target price on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $130.71.

Northern Trust Profile

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.