QRG Capital Management Inc. Acquires 4,460 Shares of Northern Trust Corporation $NTRS

QRG Capital Management Inc. raised its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 48.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,615 shares of the asset manager’s stock after purchasing an additional 4,460 shares during the period. QRG Capital Management Inc.’s holdings in Northern Trust were worth $1,833,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NTRS. Vanguard Group Inc. grew its stake in Northern Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after buying an additional 188,472 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after acquiring an additional 1,270,748 shares during the period. Geode Capital Management LLC grew its position in shares of Northern Trust by 3.7% in the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after purchasing an additional 184,726 shares in the last quarter. Invesco Ltd. grew its position in shares of Northern Trust by 1.7% in the second quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock valued at $443,971,000 after purchasing an additional 58,029 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Northern Trust by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock valued at $341,399,000 after purchasing an additional 33,227 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on NTRS shares. Citigroup lifted their target price on Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Tuesday, December 30th. TD Cowen increased their price target on shares of Northern Trust from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Truist Financial set a $148.00 price objective on shares of Northern Trust in a research note on Wednesday, January 7th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $130.00 target price on shares of Northern Trust in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $136.00.

Northern Trust Price Performance

NTRS stock opened at $145.57 on Tuesday. The firm has a 50 day simple moving average of $136.46 and a two-hundred day simple moving average of $131.37. The stock has a market cap of $27.53 billion, a PE ratio of 16.97, a P/E/G ratio of 1.21 and a beta of 1.27. Northern Trust Corporation has a one year low of $81.62 and a one year high of $148.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70.

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

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.