Mitsubishi UFJ Asset Management Co. Ltd. Invests $76.31 Million in Northern Trust Corporation $NTRS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, Holdings Channel.com reports. The firm bought 438,962 shares of the asset manager’s stock, valued at approximately $76,309,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Reflection Asset Management bought a new position in Northern Trust in the 4th quarter worth approximately $25,000. Triumph Capital Management bought a new stake in shares of Northern Trust during the third quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after buying an additional 101 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Northern Trust in the fourth quarter worth $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust during the fourth quarter worth $35,000. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. UBS Group set a $186.00 price objective on shares of Northern Trust in a report on Friday, June 26th. Truist Financial raised their price objective on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. The Goldman Sachs Group lifted their target price on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $180.68.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $190.58 on Wednesday. The firm has a market capitalization of $34.87 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $180.70 and a 200-day simple moving average of $162.65. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.Northern Trust’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. Equities analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 27.47%.

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.