JPMorgan Chase & Co. Buys 33,227 Shares of Northern Trust Corporation $NTRS

JPMorgan Chase & Co. boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,692,597 shares of the asset manager’s stock after buying an additional 33,227 shares during the period. JPMorgan Chase & Co. owned approximately 1.41% of Northern Trust worth $341,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in shares of Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after acquiring an additional 1,270,748 shares during the period. Invesco Ltd. grew its holdings in Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock valued at $339,711,000 after purchasing an additional 558,287 shares during the last quarter. LSV Asset Management raised its position in Northern Trust by 154.0% in the 2nd quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock worth $102,191,000 after purchasing an additional 488,690 shares during the period. RNC Capital Management LLC purchased a new stake in Northern Trust in the 1st quarter worth about $41,905,000. Finally, Nuveen LLC purchased a new position in shares of Northern Trust during the first quarter valued at approximately $41,834,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Price Performance

NASDAQ NTRS opened at $128.75 on Tuesday. The company has a market cap of $24.35 billion, a PE ratio of 15.01, a P/E/G ratio of 1.37 and a beta of 1.32. The firm’s 50 day moving average price is $128.91 and its 200-day moving average price is $123.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. Northern Trust’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Sell-side analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

Insider Activity at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of Northern Trust stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider owned 7,313 shares in the company, valued at $909,371.55. The trade was a 9.48% decrease in their ownership of the stock. The transaction 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 3,891 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the completion of the acquisition, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NTRS shares. Morgan Stanley increased their price target on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Truist Financial cut their price target on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a report on Tuesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.