iA Global Asset Management Inc. Purchases New Holdings in Northern Trust Corporation $NTRS

iA Global Asset Management Inc. acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,241 shares of the asset manager’s stock, valued at approximately $1,848,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. New Age Alpha Advisors LLC grew its stake 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 worth $223,000 after buying an additional 78 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after acquiring an additional 79 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of Northern Trust by 3.2% in the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock worth $372,000 after acquiring an additional 83 shares during the last quarter. Finally, NorthRock Partners LLC grew its stake 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 worth $513,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.5%

Shares of NASDAQ:NTRS opened at $176.50 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a 1 year low of $118.99 and a 1 year high of $178.70. The company has a market cap of $32.66 billion, a P/E ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.24. The stock’s fifty day moving average price is $168.75 and its 200-day moving average price is $153.07.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS 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 return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.90 EPS. Sell-side analysts expect that Northern Trust Corporation will post 11.21 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were paid a $0.80 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Insider Activity

In other news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz bought 225 shares of the company’s stock in a transaction that occurred on 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 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 22,800 shares of company stock valued at $3,785,251 over the last three months. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Barclays increased their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a report on Monday, April 6th. Finally, UBS Group set a $186.00 target price on shares of Northern Trust in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $170.69.

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.