Candriam S.C.A. Boosts Holdings in Northern Trust Corporation $NTRS

Candriam S.C.A. boosted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 126.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,919 shares of the asset manager’s stock after purchasing an additional 74,196 shares during the quarter. Candriam S.C.A.’s holdings in Northern Trust were worth $18,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Triumph Capital Management bought a new position in shares of Northern Trust during the third quarter worth $25,000. Reflection Asset Management purchased a new position in Northern Trust during the 4th quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new stake in Northern Trust in the fourth quarter worth $27,000. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the 4th quarter valued at about $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust in the 4th quarter valued at about $35,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.4%

Shares of NTRS traded up $0.69 during trading hours on Friday, reaching $183.55. 805,612 shares of the company traded hands, compared to its average volume of 916,431. The stock’s fifty day moving average price is $170.53 and its 200 day moving average price is $154.74. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm has a market cap of $33.97 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.17 and a beta of 1.25. Northern Trust Corporation has a 12-month low of $118.99 and a 12-month high of $185.57.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Sell-side analysts forecast that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on NTRS shares. Bank of America lifted their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Truist Financial raised their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Finally, Evercore set a $179.00 price objective on shares of Northern Trust in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $178.75.

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 on Tuesday, April 28th. The stock was 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 directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, 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. Insiders have sold 22,800 shares of company stock worth $3,785,251 in the last ninety days. 0.66% of the stock is owned by company insiders.

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.