Aberdeen Group plc Grows Stock Position in Northern Trust Corporation $NTRS

Aberdeen Group plc lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 7.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 195,922 shares of the asset manager’s stock after acquiring an additional 13,633 shares during the period. Aberdeen Group plc owned approximately 0.10% of Northern Trust worth $26,371,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms have weighed in on NTRS. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upped their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday, October 23rd. Citigroup increased their price target on shares of Northern Trust from $143.00 to $162.00 and gave the stock a “neutral” rating in a report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Barclays upped their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.75.

Insider Activity at Northern Trust

In related news, Director Richard Petrino acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were acquired at an average cost of $148.91 per share, with a total value of $148,910.00. Following the completion of the acquisition, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Clive Bellows sold 1,148 shares of Northern Trust stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $145.26, for a total transaction of $166,758.48. Following the completion of the sale, the insider owned 34,133 shares in the company, valued at approximately $4,958,159.58. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,191 shares of company stock valued at $4,061,028 in the last three months. Company insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $147.23 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The stock’s 50-day moving average price is $144.47 and its 200-day moving average price is $134.50. The stock has a market capitalization of $27.84 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (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 company had revenue of $3.15 billion for the quarter. During the same quarter in the prior year, the company posted $2.26 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

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.