Northern Trust Co. (NASDAQ:NTRS) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its position in Northern Trust Co. (NASDAQ:NTRS) by 64.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,524 shares of the asset manager’s stock after buying an additional 36,679 shares during the period. Intech Investment Management LLC’s holdings in Northern Trust were worth $7,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTRS. Olistico Wealth LLC acquired a new stake in Northern Trust during the second quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth $26,000. Spartan Planning & Wealth Management increased its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Northern Trust in the 2nd quarter valued at about $30,000. Finally, Versant Capital Management Inc raised its holdings in Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction 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 directly owns 1,000 shares in the company, valued at $88,120. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by insiders.

Northern Trust Stock Performance

Shares of NTRS opened at $91.90 on Friday. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.82. The stock has a market capitalization of $18.80 billion, a PE ratio of 20.29, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day simple moving average of $87.59 and a 200-day simple moving average of $85.27.

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

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.26%. Northern Trust’s dividend payout ratio is currently 66.23%.

Analysts Set New Price Targets

Several research analysts have weighed in on NTRS shares. Royal Bank of Canada increased their target price 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. The Goldman Sachs Group dropped their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Morgan Stanley decreased their price target on 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 lowered their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.75.

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.