Caprock Group LLC Acquires New Stake in Northern Trust Corporation $NTRS

Caprock Group LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 32,783 shares of the asset manager’s stock, valued at approximately $4,304,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in shares of Northern Trust by 13.1% during the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after buying an additional 79 shares in the last quarter. New York Life Investment Management LLC boosted its position in Northern Trust by 0.3% during the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after acquiring an additional 80 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Northern Trust by 2.3% in the 3rd quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after acquiring an additional 84 shares during the period. Harbour Investments Inc. grew its stake in Northern Trust by 10.0% in the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock worth $131,000 after acquiring an additional 94 shares during the period. Finally, Twin Capital Management Inc. raised its holdings in Northern Trust by 0.5% in the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after acquiring an additional 94 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John Landers sold 766 shares of the company’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 completion of the sale, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Peter Cherecwich sold 25,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the completion of the sale, the chief operating officer owned 26,259 shares of the company’s stock, valued at approximately $3,928,871.58. This trade represents a 48.77% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by corporate insiders.

Northern Trust Trading Down 1.6%

Shares of NTRS stock opened at $146.50 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The firm’s 50 day moving average price is $143.45 and its two-hundred day moving average price is $134.02. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. On average, analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.2%. Northern Trust’s dividend payout ratio (DPR) is 36.61%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NTRS. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Royal Bank Of Canada raised their price target on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Barclays raised their target price on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average price target of $148.75.

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.