69,676 Shares in Northern Trust Corporation $NTRS Purchased by Cambria Investment Management L.P.

Cambria Investment Management L.P. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 69,676 shares of the asset manager’s stock, valued at approximately $9,378,000.

Other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in shares of Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after buying an additional 78 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in 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 during the last quarter. Compound Planning Inc. raised 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 worth $224,000 after acquiring an additional 81 shares in the last quarter. NorthRock Partners LLC lifted 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 acquiring an additional 83 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Northern Trust by 2.3% in the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock valued at $500,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Performance

NASDAQ NTRS opened at $134.87 on Thursday. The stock has a market cap of $24.99 billion, a PE ratio of 15.43, a P/E/G ratio of 1.08 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50-day moving average of $145.21 and a 200-day moving average of $136.43. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $157.60.

Northern Trust (NASDAQ:NTRS) last announced its quarterly 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 firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.26 EPS. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced 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 2.4%. Northern Trust’s dividend payout ratio is presently 36.61%.

Insider Buying and Selling

In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the company’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 transaction, the insider directly owned 29,332 shares of the company’s stock, valued at $4,176,583.48. This represents a 9.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Peter Cherecwich sold 25,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $149.62, for a total value of $3,740,500.00. Following the transaction, the chief operating officer owned 26,259 shares in the company, valued at $3,928,871.58. The trade was a 48.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,905 shares of company stock valued at $5,166,714 in the last ninety days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTRS. Citigroup began coverage on shares of Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Truist Financial set a $148.00 price target on Northern Trust in a report on Wednesday, January 7th. The Goldman Sachs Group boosted their price target on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Morgan Stanley upped their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $148.75.

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.