Northern Trust Corporation $NTRS Shares Acquired by Choate Investment Advisors

Choate Investment Advisors lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 631.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,347 shares of the asset manager’s stock after acquiring an additional 9,795 shares during the quarter. Choate Investment Advisors’ holdings in Northern Trust were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Northern Trust during the 3rd quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $34,000. International Assets Investment Management LLC bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $35,000. Finally, Olistico Wealth LLC bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $41,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

Shares of NTRS stock opened at $167.77 on Tuesday. Northern Trust Corporation has a 1 year low of $104.09 and a 1 year high of $173.18. The stock has a market cap of $31.05 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The business’s fifty day moving average is $153.77 and its 200-day moving average is $144.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

Analysts Set New Price Targets

NTRS has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. Barclays lifted their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Truist Financial lifted their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group lifted their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.08.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Guy Gibson sold 3,009 shares of Northern Trust 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 transaction, the insider owned 29,332 shares in the company, valued at $4,176,583.48. The trade was 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 quarter, insiders have sold 30,514 shares of company stock valued at $4,890,937. Insiders own 0.66% of the company’s stock.

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.