Principal Financial Group Inc. Increases Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Principal Financial Group Inc. increased its holdings in Northern Trust Co. (NASDAQ:NTRSGet Rating) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,366 shares of the asset manager’s stock after purchasing an additional 30,332 shares during the period. Principal Financial Group Inc. owned 0.14% of Northern Trust worth $27,629,000 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. Trust Co. of Vermont acquired a new position in Northern Trust in the second quarter valued at $33,000. LS Investment Advisors LLC acquired a new position in Northern Trust in the second quarter valued at $38,000. Clear Street Markets LLC boosted its holdings in Northern Trust by 411.8% in the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 350 shares during the last quarter. Covestor Ltd boosted its holdings in Northern Trust by 64.8% in the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after acquiring an additional 195 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Northern Trust by 91.5% in the first quarter. Cullen Frost Bankers Inc. now owns 544 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 83.59% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $92.32 on Friday. The business’s 50 day moving average is $87.48 and its two-hundred day moving average is $95.80. Northern Trust Co. has a 52-week low of $76.15 and a 52-week high of $135.15. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 12.58 and a beta of 1.06. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.37.

Northern Trust (NASDAQ:NTRSGet Rating) last announced its earnings results on Wednesday, October 19th. The asset manager reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.04). Northern Trust had a net margin of 21.84% and a return on equity of 15.12%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts forecast that Northern Trust Co. will post 7.19 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 8th. Northern Trust’s dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods cut Northern Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 19th. Evercore ISI reduced their price objective on Northern Trust to $85.00 in a research note on Thursday, October 20th. The Goldman Sachs Group lowered their target price on Northern Trust from $114.00 to $101.00 and set a “buy” rating for the company in a research note on Friday, September 30th. Royal Bank of Canada reduced their price target on Northern Trust from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Finally, StockNews.com initiated coverage on Northern Trust in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $104.79.

About Northern Trust

(Get Rating)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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