Magnetar Financial LLC Invests $3.67 Million in Northern Trust Co. (NASDAQ:NTRS)

Magnetar Financial LLC acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,656 shares of the asset manager’s stock, valued at approximately $3,666,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTRS. Olistico Wealth LLC bought a new position in shares of Northern Trust in the second quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the second quarter valued at $26,000. Spartan Planning & Wealth Management increased its holdings in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the second quarter valued at $30,000. Finally, Versant Capital Management Inc raised its stake in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust 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 in the company, valued at $2,552,052.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 over the last three months. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Down 0.4 %

NTRS stock opened at $91.51 on Tuesday. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a 50-day moving average of $87.61 and a two-hundred day moving average of $85.36. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion for 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%. The firm’s revenue was up 53.8% compared to the same quarter last year. During the same period last year, the business posted $1.79 earnings per share. As a group, equities research analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced 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. This represents a $3.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTRS. Royal Bank of Canada boosted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley dropped their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group dropped their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.58.

Northern Trust Company 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.