Intech Investment Management LLC Raises Position in Northern Trust Corporation $NTRS

Intech Investment Management LLC lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 143.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,761 shares of the asset manager’s stock after purchasing an additional 13,994 shares during the quarter. Intech Investment Management LLC’s holdings in Northern Trust were worth $3,198,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Northern Trust by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after acquiring an additional 40,048 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Northern Trust in the 3rd quarter worth approximately $64,863,000. Aviva PLC grew its position in Northern Trust by 8.4% during the 2nd quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock worth $19,007,000 after purchasing an additional 11,587 shares during the last quarter. SG Americas Securities LLC increased its stake in Northern Trust by 228.0% during the 3rd quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager’s stock valued at $10,207,000 after purchasing an additional 52,711 shares in the last quarter. Finally, National Pension Service increased its stake in Northern Trust by 4.3% during the 3rd quarter. National Pension Service now owns 360,527 shares of the asset manager’s stock valued at $48,527,000 after purchasing an additional 14,899 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Evercore boosted their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Citigroup assumed coverage on Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Wells Fargo & Company raised their price objective on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Royal Bank Of Canada upped their target price on Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, TD Cowen increased their price target on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and a consensus target price of $148.75.

Northern Trust Stock Up 1.5%

Shares of NTRS stock opened at $145.23 on Tuesday. The stock has a 50 day moving average of $145.49 and a 200 day moving average of $135.65. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $26.99 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.15 and a beta of 1.27. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $157.60.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, topping the consensus estimate of $2.37 by $0.05. The business 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 prior year, the company posted $2.26 EPS. As a group, sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. Northern Trust’s payout ratio is presently 36.61%.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino purchased 1,000 shares of Northern Trust stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average price of $148.91 per share, with a total value of $148,910.00. Following the acquisition, the director owned 3,332 shares of the company’s stock, valued at $496,168.12. This trade represents a 42.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clive Bellows sold 1,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total value of $166,758.48. Following the transaction, the insider owned 34,133 shares in the company, valued at $4,958,159.58. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,641 shares of company stock valued at $4,269,900. Insiders own 0.77% of the company’s stock.

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.