Principal Financial Group Inc. Has $32.26 Million Stake in Northern Trust Corporation $NTRS

Principal Financial Group Inc. increased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 2.3% during the first quarter, HoldingsChannel reports. The fund owned 231,139 shares of the asset manager’s stock after buying an additional 5,189 shares during the quarter. Principal Financial Group Inc.’s holdings in Northern Trust were worth $32,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NTRS. Triumph Capital Management acquired a new stake in shares of Northern Trust during the third quarter valued at about $25,000. Reflection Asset Management bought a new stake in shares of Northern Trust during the fourth quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $35,000. Finally, Transamerica Financial Advisors LLC raised its holdings in Northern Trust by 54.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. Bank of America raised their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Wells Fargo & Company lifted their price target on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. Evercore set a $179.00 price objective on Northern Trust in a report on Monday, July 6th. Finally, Royal Bank Of Canada raised their target price on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $178.75.

Insider Transactions at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $166.41 per share, with a total value of $37,442.25. Following the purchase, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $184.68 on Monday. The company’s 50 day moving average price is $172.99 and its 200-day moving average price is $156.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a 52-week low of $118.99 and a 52-week high of $191.60. The company has a market capitalization of $34.18 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts forecast that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

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.