Chicago Partners Investment Group LLC Increases Stock Holdings in Northern Trust Corporation $NTRS

Chicago Partners Investment Group LLC increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 51.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 10,879 shares of the asset manager’s stock after acquiring an additional 3,718 shares during the period. Chicago Partners Investment Group LLC’s holdings in Northern Trust were worth $1,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTRS. State Street Corp raised its stake in shares of Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after purchasing an additional 97,584 shares during the period. Invesco Ltd. boosted its stake in shares of Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after purchasing an additional 301,164 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares during the period. Dimensional Fund Advisors LP increased its stake in Northern Trust by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,419,674 shares of the asset manager’s stock worth $330,527,000 after buying an additional 41,478 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Northern Trust by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,953,020 shares of the asset manager’s stock worth $266,763,000 after buying an additional 5,564 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director owned 8,145 shares in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock valued at $3,785,251 over the last three months. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group set a $186.00 price objective on shares of Northern Trust in a research report on Friday, June 26th. Royal Bank Of Canada lifted their target price on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group lifted their price objective on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $178.75.

Northern Trust Trading Up 1.4%

NASDAQ NTRS opened at $186.64 on Wednesday. Northern Trust Corporation has a 12 month low of $118.99 and a 12 month high of $188.50. 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 has a market capitalization of $34.54 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The company’s fifty day moving average price is $171.38 and its two-hundred day moving average price is $155.48.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. As a group, research analysts predict that Northern Trust Corporation will post 11.29 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

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.