Allianz Asset Management GmbH Has $16.30 Million Stake in Northern Trust Corporation $NTRS

Allianz Asset Management GmbH reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 52.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 121,117 shares of the asset manager’s stock after selling 135,963 shares during the quarter. Allianz Asset Management GmbH’s holdings in Northern Trust were worth $16,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $276,087,000. Primecap Management Co. CA boosted its position in Northern Trust by 19.5% in 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 in the last quarter. Marshall Wace LLP grew its stake in Northern Trust by 2,397.3% during the second quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock worth $83,304,000 after buying an additional 630,717 shares during the last quarter. Rokos Capital Management LLP acquired a new stake in shares of Northern Trust during the second quarter worth approximately $73,888,000. Finally, LSV Asset Management increased its holdings in shares of Northern Trust by 154.0% during the second quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock worth $102,191,000 after buying an additional 488,690 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price target on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods increased their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Evercore lifted their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Finally, Morgan Stanley increased their price objective on shares of Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.75.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino purchased 1,000 shares of the stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the acquisition, the director directly owned 3,332 shares of the company’s stock, valued at $496,168.12. The trade was a 42.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Landers sold 766 shares of the firm’s stock in a transaction dated 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 approximately $909,371.55. This represents a 9.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

Shares of NTRS opened at $152.15 on Friday. The stock has a market cap of $28.77 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The stock’s 50-day moving average price is $142.32 and its two-hundred day moving average price is $133.55. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. The firm 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 firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.26 EPS. On average, equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be given 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 2.1%. Northern Trust’s dividend payout ratio is currently 36.61%.

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.