Dimensional Fund Advisors LP Purchases 133,751 Shares of Northern Trust Corporation $NTRS

Dimensional Fund Advisors LP increased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 6.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,378,196 shares of the asset manager’s stock after acquiring an additional 133,751 shares during the period. Dimensional Fund Advisors LP’s holdings in Northern Trust were worth $320,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTRS. Empowered Funds LLC increased 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 purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP boosted its position in shares of Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after purchasing an additional 4,653 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Northern Trust during the 2nd quarter worth $247,000. Hantz Financial Services Inc. increased its position in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Northern Trust by 251.0% in the second quarter. Assetmark Inc. now owns 2,050 shares of the asset manager’s stock valued at $260,000 after buying an additional 1,466 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Truist Financial set a $148.00 target price on shares of Northern Trust in a research note on Wednesday, January 7th. TD Cowen upped their price target on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus price target of $148.75.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $143.50 on Friday. The company has a 50 day simple moving average of $145.67 and a two-hundred day simple moving average of $135.89. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.16 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.05. The firm had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.26 EPS. As a group, analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

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

Insiders Place Their Bets

In other news, insider Guy Gibson sold 1,043 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $147.43, for a total value of $153,769.49. Following the sale, the insider owned 35,013 shares in the company, valued at $5,161,966.59. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clive Bellows sold 1,148 shares of Northern Trust stock in a transaction that occurred on Thursday, February 12th. The shares were 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 of the company’s stock, valued at approximately $4,958,159.58. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,896 shares of company stock worth $4,738,262. 0.77% of the stock is currently owned by company insiders.

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.