Panagora Asset Management Inc. Grows Stake in Northern Trust Corporation $NTRS

Panagora Asset Management Inc. grew its position in Northern Trust Corporation (NASDAQ:NTRS) by 54.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,002,267 shares of the asset manager’s stock after purchasing an additional 352,379 shares during the quarter. Panagora Asset Management Inc.’s holdings in Northern Trust were worth $136,900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC grew its holdings in Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Northern Trust in the third quarter worth $2,253,000. Cinctive Capital Management LP grew its holdings in Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock worth $3,895,000 after purchasing an additional 15,398 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Northern Trust by 119.9% in the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock worth $11,195,000 after purchasing an additional 45,356 shares during the last quarter. Finally, Barclays PLC grew its holdings in Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after purchasing an additional 400,247 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Truist Financial lifted their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Barclays lifted their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $164.08.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,800 shares of company stock worth $3,785,251 over the last three months. Company insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

NASDAQ NTRS opened at $174.34 on Monday. The company has a market capitalization of $32.26 billion, a PE ratio of 18.26, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a fifty day moving average of $162.74 and a 200 day moving average of $149.02. Northern Trust Corporation has a 1 year low of $107.08 and a 1 year high of $175.11. 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 posted 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. Research analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm 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 dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

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.