Northern Trust Corporation $NTRS Shares Bought by Ethic Inc.

Ethic Inc. boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,416 shares of the asset manager’s stock after acquiring an additional 4,334 shares during the quarter. Ethic Inc.’s holdings in Northern Trust were worth $5,440,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

NTRS has been the subject of several analyst reports. TD Cowen boosted their price target on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Evercore ISI increased their price objective on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup increased their price target on shares of Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Cowen reaffirmed a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $133.08.

Northern Trust Stock Down 1.1%

NTRS opened at $138.13 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $141.25. The stock has a market capitalization of $26.12 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.50 and a beta of 1.27. The business has a 50 day simple moving average of $131.98 and a 200-day simple moving average of $129.08.

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

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. Northern Trust’s payout ratio is currently 37.30%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz bought 3,891 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares in the company, valued at approximately $859,619.02. This represents a 139.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Landers sold 766 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was 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 in the company, valued at $909,371.55. This trade represents a 9.48% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by company insiders.

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.