Northern Trust Corporation $NTRS Stock Position Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its position in Northern Trust Corporation (NASDAQ:NTRS) by 52.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 121,117 shares of the asset manager’s stock after selling 135,963 shares during the period. Allianz Asset Management GmbH owned about 0.06% of Northern Trust worth $16,302,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NTRS. FNY Investment Advisers LLC acquired a new position in Northern Trust in the 2nd quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its holdings in shares of Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. AlphaCore Capital LLC grew its holdings in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of Northern Trust in the second quarter worth $29,000. Finally, Caldwell Trust Co purchased a new stake in shares of Northern Trust during the second quarter worth $48,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 245 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were acquired at an average cost of $151.85 per share, with a total value of $37,203.25. Following the completion of the transaction, the director directly owned 6,931 shares in the company, valued at $1,052,472.35. This represents a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 25,000 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the completion of the transaction, the chief operating officer owned 26,259 shares of the company’s stock, valued at $3,928,871.58. The trade was a 48.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTRS. Evercore boosted their target price on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a report on Thursday, January 22nd. Truist Financial set a $148.00 price target on Northern Trust in a research note on Wednesday, January 7th. TD Cowen raised their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $148.75.

Northern Trust Stock Performance

Shares of NTRS opened at $152.15 on Friday. The company has a market capitalization of $28.77 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.70. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60. The company’s fifty day moving average price is $142.32 and its 200 day moving average price is $133.55.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business had revenue of $3.15 billion for the quarter. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s dividend payout ratio is currently 36.61%.

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.