Northwestern Mutual Wealth Management Co. Has $22.79 Million Holdings in Northern Trust Corporation $NTRS

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1,838.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 180,034 shares of the asset manager’s stock after buying an additional 170,745 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Northern Trust were worth $22,793,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NTRS. Empowered Funds LLC raised its stake in Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares during the period. Woodline Partners LP increased its position in shares of Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after acquiring an additional 596 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Northern Trust during the second quarter worth $267,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 1,275 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. The Goldman Sachs Group lifted their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Citigroup initiated coverage on Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $164.08.

Northern Trust Stock Performance

NTRS opened at $164.91 on Wednesday. The business’s 50-day moving average price is $151.49 and its two-hundred day moving average price is $143.81. Northern Trust Corporation has a 1 year low of $104.09 and a 1 year high of $173.18. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. Equities analysts expect that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s payout ratio is currently 33.51%.

Insider Buying and Selling

In related news, insider Guy Gibson sold 3,009 shares of Northern Trust stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the sale, the insider owned 29,332 shares of the company’s stock, valued at approximately $4,176,583.48. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,514 shares of company stock worth $4,890,937 in the last three months. Insiders own 0.66% of the company’s stock.

Northern Trust 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.