Vanguard Group Inc. Lowers Position in Northern Trust Corporation $NTRS

Vanguard Group Inc. lessened its position in Northern Trust Corporation (NASDAQ:NTRS) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,225,159 shares of the asset manager’s stock after selling 71,294 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Northern Trust worth $3,035,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTRS. Empowered Funds LLC lifted its stake in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares during the period. Woodline Partners LP lifted its stake in shares of Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Northern Trust by 79.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 596 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Northern Trust in the 2nd quarter valued at approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 1,275 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 0.5%

Northern Trust stock opened at $166.90 on Wednesday. The firm has a market cap of $30.93 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.21 and a beta of 1.23. The stock has a fifty day simple moving average of $146.47 and a two-hundred day simple moving average of $140.49. Northern Trust Corporation has a 12 month low of $91.74 and a 12 month high of $173.18. The company has a current ratio of 0.62, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. Equities analysts predict that Northern Trust Corporation will post 10.58 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued 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 dividend payout ratio (DPR) is presently 33.51%.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz acquired 245 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average price of $151.85 per share, with a total value of $37,203.25. Following the completion of the acquisition, the director directly owned 6,931 shares of the company’s stock, valued at approximately $1,052,472.35. The trade was a 3.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total value of $468,361.95. Following the completion of the sale, the chief financial officer directly owned 14,552 shares of the company’s stock, valued at $2,093,887.28. The trade was a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,705 shares of company stock worth $1,888,270. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of research analyst reports. Truist Financial raised their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Barclays lifted their price objective on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Morgan Stanley lifted their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $163.55.

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.