Brandywine Global Investment Management LLC Grows Stock Holdings in Northern Trust Corporation $NTRS

Brandywine Global Investment Management LLC raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,036 shares of the asset manager’s stock after acquiring an additional 46,500 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Northern Trust were worth $33,606,000 at the end of the most recent quarter.

A number of other hedge funds have 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 period. Compound Planning Inc. increased its position in shares of Northern Trust by 5.1% in the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after acquiring an additional 81 shares during the period. Apollon Wealth Management LLC increased its position in shares of Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after acquiring an additional 81 shares during the period. NorthRock Partners LLC increased its position in shares of 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 period. Finally, Signaturefd LLC increased its position in shares of Northern Trust by 2.7% in the fourth quarter. Signaturefd LLC now owns 3,551 shares of the asset manager’s stock valued at $485,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Truist Financial boosted their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Barclays boosted their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $164.08.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $169.11 on Tuesday. Northern Trust Corporation has a 1 year low of $107.08 and a 1 year high of $173.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50-day moving average is $160.15 and its 200 day moving average is $147.79. The stock has a market capitalization of $31.29 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.22 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced 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 net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio is 33.51%.

Insiders Place Their Bets

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,800 shares of company stock worth $3,785,251. 0.66% of the stock is currently owned by company insiders.

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.