Bridgefront Capital LLC Makes New $552,000 Investment in Northern Trust Corporation $NTRS

Bridgefront Capital LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,102 shares of the asset manager’s stock, valued at approximately $552,000.

Other hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC increased its position in shares of Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 78 shares during the last quarter. Salomon & Ludwin LLC boosted its position in Northern Trust by 13.1% during the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock valued at $90,000 after purchasing an additional 79 shares during the last quarter. Compound Planning Inc. boosted its position in Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after purchasing an additional 81 shares during the last quarter. NorthRock Partners LLC grew its stake in Northern Trust by 2.2% in the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 83 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its position in shares of Northern Trust by 2.3% during the 3rd quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped 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 shares of Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. TD Cowen boosted their target price on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.75.

Northern Trust Stock Performance

Shares of NASDAQ NTRS 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. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The stock has a 50 day moving average of $145.51 and a 200-day moving average of $136.41. The company has a market capitalization of $25.29 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.08 and a beta of 1.27.

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

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend yield of 2.3%. Northern Trust’s dividend payout ratio is presently 36.61%.

Insider Buying and Selling

In other Northern Trust news, 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 transaction, the chief operating officer directly owned 26,259 shares of the company’s stock, valued at $3,928,871.58. This represents a 48.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Guy Gibson sold 3,009 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider 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. Over the last three months, insiders sold 34,905 shares of company stock valued at $5,166,714. 0.77% of the stock is currently owned by insiders.

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.