Permanent Capital Management LP Buys Shares of 5,990 Northern Trust Corporation $NTRS

Permanent Capital Management LP purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,990 shares of the asset manager’s stock, valued at approximately $811,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. CreativeOne Wealth LLC increased its stake in Northern Trust by 49.1% in the first quarter. CreativeOne Wealth LLC now owns 3,682 shares of the asset manager’s stock valued at $363,000 after acquiring an additional 1,213 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Northern Trust by 63.4% in the 1st quarter. BNP Paribas Financial Markets now owns 395,787 shares of the asset manager’s stock worth $39,044,000 after purchasing an additional 153,511 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Northern Trust by 5.2% during the 1st quarter. Landscape Capital Management L.L.C. now owns 8,257 shares of the asset manager’s stock valued at $815,000 after purchasing an additional 406 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Northern Trust during the 1st quarter valued at about $402,000. Finally, Evergreen Capital Management LLC lifted its position in Northern Trust by 14.1% in the 1st quarter. Evergreen Capital Management LLC now owns 5,818 shares of the asset manager’s stock worth $578,000 after buying an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of Northern Trust stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. The trade was a 9.48% decrease in their ownership of the stock. 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 the firm’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the acquisition, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of several research reports. TD Cowen lifted their price target on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research note on Tuesday, September 30th. Morgan Stanley raised their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company boosted their target price on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Stock Down 0.4%

NASDAQ NTRS opened at $140.14 on Monday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $141.25. The stock has a market capitalization of $26.50 billion, a PE ratio of 16.33, a PEG ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50-day moving average is $131.57 and its 200 day moving average is $128.65.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share 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 return on equity of 14.37% and a net margin of 11.99%.The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.22 EPS. Sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s payout ratio is 37.30%.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.