Rakuten Investment Management Inc. Purchases Shares of 69,287 Northern Trust Corporation $NTRS

Rakuten Investment Management Inc. purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,287 shares of the asset manager’s stock, valued at approximately $9,326,000.

Other large investors have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Northern Trust during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares during the period. AlphaCore Capital LLC lifted its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares during the period. Clearstead Trust LLC bought a new stake in Northern Trust during the second quarter worth about $29,000. Finally, GFG Capital LLC purchased a new stake in Northern Trust in the second quarter worth about $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Citigroup upped their price target on Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Tuesday, December 30th. BMO Capital Markets began coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. TD Cowen restated a “buy” rating on shares of Northern Trust in a research note on Wednesday, January 7th. Finally, Truist Financial set a $148.00 price target on shares of Northern Trust in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $136.00.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The stock was acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Landers sold 766 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. The trade was a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Northern Trust Trading Up 0.8%

Northern Trust stock opened at $144.42 on Thursday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $148.98. The company has a market cap of $27.31 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.19 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $136.96 and a two-hundred day simple moving average of $131.54.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter. The firm had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. Analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 6th. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

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.