Allstate Corp Acquires New Position in Northern Trust Corporation $NTRS

Allstate Corp bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to its most recent filing with the SEC. The firm bought 6,870 shares of the asset manager’s stock, valued at approximately $925,000.

A number of other hedge funds have also bought and sold shares of NTRS. FNY Investment Advisers LLC acquired a new stake in shares of Northern Trust during the second quarter worth $25,000. AlphaCore Capital LLC raised its stake in Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Clearstead Trust LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $29,000. Finally, GFG Capital LLC purchased a new stake in Northern Trust during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Landers sold 766 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the transaction, the insider directly owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. This represents a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Truist Financial set a $148.00 price target on shares of Northern Trust in a research report on Wednesday, January 7th. Barclays lifted their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $136.00.

Northern Trust Price Performance

Northern Trust stock opened at $144.42 on Thursday. The stock has a market capitalization of $27.31 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.19 and a beta of 1.27. The company’s fifty day moving average price is $136.96 and its 200 day moving average price is $131.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $148.98.

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, beating the consensus estimate of $2.26 by $0.03. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. As a group, equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, March 6th. Northern Trust’s payout ratio is 37.30%.

About Northern Trust

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.