Canada Pension Plan Investment Board Buys New Shares in Northern Trust Corporation $NTRS

Canada Pension Plan Investment Board bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 246,600 shares of the asset manager’s stock, valued at approximately $42,869,000. Canada Pension Plan Investment Board owned approximately 0.13% of Northern Trust at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP raised its holdings in Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Northern Trust in the second quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its stake in Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $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.

Analysts Set New Price Targets

A number of equities research analysts have commented on NTRS shares. UBS Group set a $186.00 price objective on shares of Northern Trust in a research report on Friday, June 26th. 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 report 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 research note on Thursday, July 9th. Truist Financial increased their target price on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Finally, Barclays raised their price target on Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $180.68.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 0.7%

NTRS stock opened at $186.27 on Friday. The stock has a market cap of $34.08 billion, a P/E ratio of 15.99, a PEG ratio of 1.06 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The company’s 50 day moving average is $182.57 and its two-hundred day moving average is $164.39.

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

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 27.47%.

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.