ABN Amro Investment Solutions Acquires Shares of 48,985 Northern Trust Corporation $NTRS

ABN Amro Investment Solutions bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,985 shares of the asset manager’s stock, valued at approximately $6,211,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Northern Trust in the 2nd quarter valued at $25,000. Hantz Financial Services Inc. raised its stake in shares of Northern Trust by 5,225.0% in the 2nd 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. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust during the 1st quarter worth about $29,000. GFG Capital LLC acquired a new position in shares of Northern Trust during the 2nd quarter worth about $35,000. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after buying an additional 130 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTRS shares. Evercore ISI lifted their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a research report on Tuesday, September 30th. Cowen restated a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.46.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $128.91 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.38 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.37 and a beta of 1.32. The business’s fifty day moving average is $129.26 and its 200 day moving average is $121.89. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48.

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

Northern Trust Announces Dividend

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

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.