Brevan Howard Capital Management LP Raises Stock Position in Northern Trust Corporation $NTRS

Brevan Howard Capital Management LP boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 252.6% in the third quarter, HoldingsChannel.com reports. The fund owned 25,373 shares of the asset manager’s stock after purchasing an additional 18,177 shares during the period. Brevan Howard Capital Management LP’s holdings in Northern Trust were worth $3,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cinctive Capital Management LP grew its position in shares of Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after purchasing an additional 15,398 shares during the period. Ausdal Financial Partners Inc. acquired a new position in shares of Northern Trust during the 3rd quarter worth about $249,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Northern Trust by 4.0% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 38,297 shares of the asset manager’s stock worth $5,155,000 after purchasing an additional 1,481 shares during the last quarter. Bridgefront Capital LLC purchased a new position in Northern Trust in the 3rd quarter valued at about $552,000. Finally, California Public Employees Retirement System boosted its holdings in Northern Trust by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 379,373 shares of the asset manager’s stock worth $51,064,000 after buying an additional 5,682 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Down 0.3%

NTRS stock opened at $136.49 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $145.51 and a two-hundred day moving average of $136.41. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.08 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 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.05. The business had revenue of $3.15 billion for the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 earnings per share. As a group, analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal 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 paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. Northern Trust’s payout ratio is 36.61%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 1,148 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total value of $166,758.48. Following the completion of the sale, the insider directly owned 34,133 shares in the company, valued at $4,958,159.58. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Guy Gibson sold 3,009 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the completion of the sale, the insider directly owned 29,332 shares of the company’s stock, valued at $4,176,583.48. This trade represents a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,905 shares of company stock valued at $5,166,714 in the last three months. Company insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTRS. The Goldman Sachs Group boosted their price objective on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Citigroup assumed coverage on Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Evercore boosted their price target on Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.75.

About Northern Trust

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.