9,788 Northern Trust Corporation $NTRS Shares Acquired by North Dakota State Investment Board

North Dakota State Investment Board lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 146.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,466 shares of the asset manager’s stock after acquiring an additional 9,788 shares during the quarter. North Dakota State Investment Board’s holdings in Northern Trust were worth $2,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTRS. VestGen Advisors LLC boosted its holdings in Northern Trust by 5.0% in the third quarter. VestGen Advisors LLC now owns 2,334 shares of the asset manager’s stock valued at $395,000 after purchasing an additional 112 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Northern Trust by 11.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 84,592 shares of the asset manager’s stock valued at $14,327,000 after buying an additional 8,764 shares during the last quarter. SYM FINANCIAL Corp raised its stake in shares of Northern Trust by 5.7% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,237 shares of the asset manager’s stock valued at $379,000 after buying an additional 121 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Northern Trust by 2.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,405 shares of the asset manager’s stock valued at $577,000 after buying an additional 79 shares during the period. Finally, Patton Albertson Miller Group LLC acquired a new position in shares of Northern Trust in the 3rd quarter valued at about $681,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $172.92 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.53 and a twelve month high of $195.78. The business has a 50-day moving average price of $175.79 and a 200 day moving average price of $165.17. The firm has a market cap of $31.64 billion, a PE ratio of 14.86, a P/E/G ratio of 0.88 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. Northern Trust’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Sell-side analysts predict that Northern Trust Corporation will post 11.95 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be given a $0.88 dividend. The ex-dividend date is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.0%. Northern Trust’s payout ratio is 27.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NTRS shares. Wells Fargo & Company upped their target price on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Barclays lifted their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Capital One Financial set a $190.00 price target on Northern Trust in a report on Tuesday, October 6th. Evercore set a $183.00 price objective on Northern Trust in a research report on Thursday, October 1st. Finally, Keefe, Bruyette & Woods raised their price objective 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. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $183.47.

Insider Activity at Northern Trust

In related news, EVP Susan Levy sold 16,984 shares of Northern Trust stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $168.15, for a total value of $2,855,859.60. Following the sale, the executive vice president owned 59,378 shares of the company’s stock, valued at approximately $9,984,410.70. This trade represents a 22.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,706 shares of company stock valued at $3,850,282. Corporate insiders own 0.66% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.