Versor Investments LP Takes Position in Northern Trust Corporation $NTRS

Versor Investments LP purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,200 shares of the asset manager’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Vanguard Group Inc. raised its holdings in shares of Northern Trust by 0.8% during the second quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after purchasing an additional 188,472 shares during the last quarter. Primecap Management Co. CA raised its stake in Northern Trust by 19.5% during the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after buying an additional 1,270,748 shares during the last quarter. Geode Capital Management LLC raised its stake in Northern Trust by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after buying an additional 184,726 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Northern Trust by 1.7% during the 2nd quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock valued at $443,971,000 after buying an additional 58,029 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Northern Trust by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock worth $341,399,000 after buying an additional 33,227 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $146.50 on Thursday. The company has a market capitalization of $27.71 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.21 and a beta of 1.27. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $157.60. The firm’s 50 day simple moving average is $143.45 and its two-hundred day simple moving average is $134.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The firm had revenue of $3.15 billion for the quarter. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.80 dividend. 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 payout ratio is presently 36.61%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. TD Cowen upped their price target on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised their price objective on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Citigroup upped their target price on shares of Northern Trust from $143.00 to $162.00 and gave the company a “neutral” rating in a report on Tuesday, January 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $148.75.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 245 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average cost of $151.85 per share, for a total transaction of $37,203.25. Following the completion of the acquisition, the director owned 6,931 shares in the company, valued at $1,052,472.35. This represents a 3.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.77% of the company’s stock.

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.