Bridgefront Capital LLC Acquires Shares of 4,102 Northern Trust Corporation $NTRS

Bridgefront Capital LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 3rd quarter, Holdings Channel reports. The firm acquired 4,102 shares of the asset manager’s stock, valued at approximately $552,000.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after acquiring an additional 2,363 shares in the last quarter. Woodline Partners LP raised its stake in 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. Allworth Financial LP boosted its holdings in Northern Trust by 43.2% in the 2nd quarter. Allworth Financial LP now owns 1,051 shares of the asset manager’s stock valued at $133,000 after purchasing an additional 317 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Northern Trust by 2.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 29,705 shares of the asset manager’s stock valued at $3,766,000 after purchasing an additional 687 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Northern Trust by 6.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,712 shares of the asset manager’s stock worth $6,049,000 after purchasing an additional 2,896 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Activity

In related news, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction that occurred on Wednesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Petrino acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $148.91 per share, with a total value of $148,910.00. Following the purchase, the director owned 3,332 shares in the company, valued at $496,168.12. The trade was a 42.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 34,905 shares of company stock valued at $5,166,714. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTRS. Citigroup started coverage on shares of Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company increased their price target on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. Finally, TD Cowen increased their target price on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.75.

Northern Trust Stock Down 0.3%

Shares of NTRS opened at $136.49 on Tuesday. The firm has a 50 day simple moving average of $145.51 and a two-hundred day simple moving average of $136.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60. The company has a market cap of $25.29 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.08 and a beta of 1.27.

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

Northern Trust Announces Dividend

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

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.