Northern Trust Co. (NASDAQ:NTRS) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 372.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,468 shares of the asset manager’s stock after purchasing an additional 108,371 shares during the quarter. Acadian Asset Management LLC owned approximately 0.07% of Northern Trust worth $11,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Allspring Global Investments Holdings LLC raised its position in Northern Trust by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after acquiring an additional 131 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Northern Trust by 23.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after purchasing an additional 151 shares during the period. Harvest Investment Advisors LLC raised its stake in shares of Northern Trust by 1.0% in the 4th quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock valued at $1,375,000 after acquiring an additional 160 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Northern Trust by 2.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,464 shares of the asset manager’s stock valued at $664,000 after buying an additional 172 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Northern Trust by 4.5% during the first quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock worth $379,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NTRS. Keefe, Bruyette & Woods lowered their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Morgan Stanley reduced their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group cut their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada increased their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.75.

Northern Trust Stock Performance

Shares of NTRS stock opened at $87.76 on Tuesday. The stock has a 50 day simple moving average of $86.74 and a 200-day simple moving average of $84.84. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.46.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the business posted $1.79 EPS. On average, equities analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.42%. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.