UBS Group AG Raises Position in Northern Trust Corporation $NTRS

UBS Group AG raised its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,190,998 shares of the asset manager’s stock after buying an additional 148,567 shares during the quarter. UBS Group AG’s holdings in Northern Trust were worth $162,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in Northern Trust during the third quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new stake in Northern Trust during the fourth quarter valued at approximately $27,000. Olistico Wealth LLC purchased a new stake in Northern Trust during the fourth quarter valued at approximately $41,000. True Wealth Design LLC raised its position in Northern Trust by 98.7% during the fourth quarter. True Wealth Design LLC now owns 314 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 156 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Northern Trust by 2,650.0% during the third quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 371 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Down 1.2%

Shares of NASDAQ NTRS opened at $164.83 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 0.62. The business’s 50 day moving average price is $146.81 and its 200-day moving average price is $140.66. Northern Trust Corporation has a fifty-two week low of $91.74 and a fifty-two week high of $173.18. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.21 and a beta of 1.23.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, sell-side analysts expect that Northern Trust Corporation will post 10.58 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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group upped their price objective on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research report on Monday, April 6th. Wells Fargo & Company increased their price target on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Finally, Barclays increased their price target on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $163.55.

Insider Activity at Northern Trust

In other news, Director Richard Petrino acquired 1,000 shares of Northern Trust stock in a transaction on Thursday, February 5th. The shares were bought at an average cost of $148.91 per share, for a total transaction of $148,910.00. Following the acquisition, the director directly owned 3,332 shares of the company’s stock, valued at $496,168.12. This trade represents a 42.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm’s 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 transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,705 shares of company stock worth $5,211,464 over the last three months. Corporate insiders own 0.66% of the company’s stock.

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.