OMERS ADMINISTRATION Corp Increases Stock Holdings in Northern Trust Corporation $NTRS

OMERS ADMINISTRATION Corp increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,483 shares of the asset manager’s stock after acquiring an additional 3,587 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Northern Trust were worth $3,836,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its stake in 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 period. Concurrent Investment Advisors LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at about $1,959,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Northern Trust by 60.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,266 shares of the asset manager’s stock valued at $5,660,000 after acquiring an additional 14,846 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after acquiring an additional 170,745 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after acquiring an additional 161,826 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In other news, Director Robert Edward Jr. Moritz purchased 225 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the purchase, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Truist Financial raised their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Finally, Evercore set a $179.00 price target on Northern Trust in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $180.25.

Northern Trust Stock Up 1.1%

Shares of NASDAQ NTRS opened at $182.52 on Tuesday. The stock has a market capitalization of $33.77 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The firm has a 50-day moving average price of $175.15 and a 200 day moving average price of $158.24. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is 30.21%.

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.