5,990 Shares in Northern Trust Corporation $NTRS Acquired by Permanent Capital Management LP

Permanent Capital Management LP acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, Holdings Channel reports. The firm acquired 5,990 shares of the asset manager’s stock, valued at approximately $811,000.

Other hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Northern Trust during the second quarter valued at $25,000. AlphaCore Capital LLC grew its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Clearstead Trust LLC purchased a new position in Northern Trust in the second quarter worth about $29,000. Finally, GFG Capital LLC bought a new position in shares of Northern Trust in the second quarter worth approximately $35,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several analyst reports. Cowen reissued a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target for the company. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods boosted their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $132.46.

Northern Trust Stock Down 0.4%

Northern Trust stock opened at $140.14 on Monday. Northern Trust Corporation has a one year low of $81.62 and a one year high of $141.25. The stock has a fifty day moving average of $131.57 and a 200 day moving average of $128.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $26.50 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $2.22 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 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 2.3%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is currently 37.30%.

Insider Transactions at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the transaction, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Landers sold 766 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the sale, the insider directly owned 7,313 shares of the company’s stock, valued at $909,371.55. This represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.77% of the company’s stock.

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.