NFJ Investment Group LLC Purchases Shares of 35,846 Northern Trust Corporation $NTRS

NFJ Investment Group LLC acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 35,846 shares of the asset manager’s stock, valued at approximately $6,231,000.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after buying an additional 2,363 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after acquiring an additional 596 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $267,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after acquiring an additional 1,275 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of several research reports. Barclays boosted their price target on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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 Stock Down 1.6%

Shares of NTRS opened at $182.51 on Friday. The company has a market cap of $33.39 billion, a PE ratio of 15.67, a P/E/G ratio of 1.04 and a beta of 1.25. The business has a fifty day moving average of $181.32 and a 200 day moving average of $163.13. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business posted $2.13 earnings per share. The business’s revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts expect 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 1.9%. 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 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.