iSAM Funds UK Ltd Invests $2.25 Million in Northern Trust Corporation $NTRS

iSAM Funds UK Ltd bought a new position in Northern Trust Corporation (NASDAQ:NTRS) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 16,742 shares of the asset manager’s stock, valued at approximately $2,253,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Northern Trust by 0.8% during the second quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after acquiring an additional 188,472 shares during the period. Primecap Management Co. CA increased its stake in Northern Trust by 19.5% during the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after acquiring an additional 1,270,748 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Northern Trust by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock worth $656,229,000 after purchasing an additional 184,726 shares during the period. Invesco Ltd. lifted its stake in shares of Northern Trust by 1.7% in the 2nd quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock valued at $443,971,000 after purchasing an additional 58,029 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock valued at $341,399,000 after purchasing an additional 33,227 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $136.92 on Friday. The business’s 50-day simple moving average is $145.66 and its 200 day simple moving average is $136.30. The company has a market cap of $25.44 billion, a P/E ratio of 15.67, a PEG ratio of 1.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the company earned $2.26 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. Northern Trust’s dividend payout ratio is 36.61%.

Insiders Place Their Bets

In related news, insider Guy Gibson sold 3,009 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the sale, the insider directly owned 29,332 shares of the company’s stock, valued at approximately $4,176,583.48. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the sale, the chief financial officer directly owned 14,552 shares in the company, valued at $2,093,887.28. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 34,905 shares of company stock valued at $5,166,714. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of a number of research analyst reports. Evercore increased their target price on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. TD Cowen lifted their price target on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Wells Fargo & Company boosted their price objective on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, Truist Financial set a $148.00 target price on shares of Northern Trust in a research note on Wednesday, January 7th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.75.

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.