LSV Asset Management Sells 11,400 Shares of Northern Trust Corporation $NTRS

LSV Asset Management decreased its stake in Northern Trust Corporation (NASDAQ:NTRS) by 1.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 794,590 shares of the asset manager’s stock after selling 11,400 shares during the period. LSV Asset Management’s holdings in Northern Trust were worth $106,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NTRS. Norges Bank bought a new stake in Northern Trust in the 2nd quarter valued at $276,087,000. Primecap Management Co. CA raised its position in shares of Northern Trust by 19.5% during 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 buying an additional 1,270,748 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Northern Trust by 2,397.3% in the second quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock valued at $83,304,000 after buying an additional 630,717 shares during the period. Rokos Capital Management LLP acquired a new stake in Northern Trust during the second quarter worth about $73,888,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Northern Trust during the second quarter valued at about $44,186,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Down 1.6%

Shares of NASDAQ:NTRS opened at $144.21 on Friday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. The company’s fifty day moving average is $143.67 and its 200-day moving average is $134.09. The company has a market capitalization of $27.27 billion, a PE ratio of 16.50, a P/E/G ratio of 1.19 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 EPS. Equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.2%. Northern Trust’s payout ratio is 36.61%.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of research reports. Royal Bank Of Canada raised their price objective on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. TD Cowen raised their target price on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Barclays lifted their price target on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Morgan Stanley increased their price objective on shares of Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $148.75.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $148.91 per share, for a total transaction of $148,910.00. Following the transaction, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. The trade was a 42.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Peter Cherecwich sold 25,000 shares of Northern Trust stock in a transaction on Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the completion of the transaction, the chief operating officer owned 26,259 shares of the company’s stock, valued at approximately $3,928,871.58. The trade was a 48.77% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by corporate insiders.

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.