North Dakota State Investment Board Takes $890,000 Position in Northern Trust Corporation $NTRS

North Dakota State Investment Board purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 4th quarter, HoldingsChannel reports. The firm purchased 6,518 shares of the asset manager’s stock, valued at approximately $890,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC grew its position in shares of Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock valued at $6,595,000 after purchasing an additional 26,594 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Northern Trust by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after purchasing an additional 40,048 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Northern Trust in the third quarter valued at about $2,253,000. Cinctive Capital Management LP grew its position in shares of Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after purchasing an additional 15,398 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after purchasing an additional 400,247 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Up 0.6%

Shares of NTRS opened at $165.96 on Thursday. Northern Trust Corporation has a 12-month low of $104.09 and a 12-month high of $173.18. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $30.71 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.18 and a beta of 1.27. The stock’s 50-day moving average price is $152.04 and its 200 day moving average price is $144.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The company 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%.The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. As a group, research analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

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

Analysts Set New Price Targets

NTRS has been the topic of several research analyst reports. 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 report on Monday, April 6th. Wells Fargo & Company boosted their price target on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. TD Cowen boosted their price target on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. boosted their price target on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $164.08.

Insider Buying and Selling

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction that occurred on 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 directly owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,514 shares of company stock valued at $4,890,937 over the last ninety days. Company insiders own 0.66% of the company’s stock.

About Northern Trust

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.