Assetmark Inc. Raises Stock Holdings in Northern Trust Corporation $NTRS

Assetmark Inc. lifted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 251.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,050 shares of the asset manager’s stock after acquiring an additional 1,466 shares during the quarter. Assetmark Inc.’s holdings in Northern Trust were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTRS. Hantz Financial Services Inc. boosted its stake in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Arkadios Wealth Advisors acquired a new position in Northern Trust during the 2nd quarter worth approximately $247,000. New York Life Investment Management LLC increased its position in shares of Northern Trust by 0.3% in the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock valued at $3,694,000 after purchasing an additional 80 shares during the last quarter. Trust Investment Advisors acquired a new stake in shares of Northern Trust in the 2nd quarter valued at $226,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Northern Trust by 30.5% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,945 shares of the asset manager’s stock worth $3,416,000 after purchasing an additional 6,300 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. TD Cowen increased their price target on shares of Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Truist Financial reduced their price objective on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research note on Tuesday, September 30th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $130.71.

Northern Trust Price Performance

Shares of NTRS opened at $129.96 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $129.23 and its two-hundred day moving average is $121.01. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The firm has a market capitalization of $24.58 billion, a PE ratio of 15.15, a P/E/G ratio of 1.37 and a beta of 1.32.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm earned $2.22 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is presently 37.30%.

Insider Buying and Selling at Northern Trust

In other news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the transaction, the executive vice president directly owned 48,257 shares of the company’s stock, valued at $6,183,169.41. This represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director directly owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 4,417 shares of company stock worth $566,807 over the last 90 days. Insiders own 0.77% of the company’s stock.

About Northern Trust

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.