Korea Investment CORP Has $15.79 Million Holdings in Northern Trust Corporation $NTRS

Korea Investment CORP decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 20.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 117,274 shares of the asset manager’s stock after selling 31,060 shares during the quarter. Korea Investment CORP’s holdings in Northern Trust were worth $15,785,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NTRS. AlphaCore Capital LLC lifted its holdings in shares of Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares in the last quarter. Clearstead Trust LLC purchased a new position in shares of Northern Trust during the second quarter valued at approximately $29,000. Caldwell Trust Co bought a new stake in Northern Trust during the second quarter worth $48,000. SJS Investment Consulting Inc. raised its position in Northern Trust by 2,650.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager’s stock valued at $52,000 after buying an additional 371 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Northern Trust in the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 0.3%

Shares of NASDAQ:NTRS opened at $137.98 on Wednesday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The company has a market capitalization of $25.64 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.27. The business has a fifty day moving average price of $145.61 and a two-hundred day moving average price of $136.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69.

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

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s payout ratio is currently 36.61%.

Insider Transactions at Northern Trust

In related news, Director Richard Petrino purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the purchase, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the completion of the sale, the chief financial officer directly owned 14,552 shares in the company, valued at $2,093,887.28. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 34,905 shares of company stock valued at $5,166,714. Corporate insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTRS shares. Barclays lifted their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Citigroup started coverage on shares of Northern Trust in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price target on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. The Goldman Sachs Group upped their price objective on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Evercore increased their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $148.75.

About Northern Trust

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.