Cinctive Capital Management LP Raises Stake in Northern Trust Corporation $NTRS

Cinctive Capital Management LP boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 113.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,939 shares of the asset manager’s stock after acquiring an additional 15,398 shares during the period. Cinctive Capital Management LP’s holdings in Northern Trust were worth $3,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AlphaCore Capital LLC grew its stake 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 worth $27,000 after purchasing an additional 97 shares in the last quarter. Clearstead Trust LLC acquired a new stake in Northern Trust in the second quarter valued at $29,000. Caldwell Trust Co acquired a new stake in Northern Trust in the second quarter valued at $48,000. SJS Investment Consulting Inc. lifted its holdings in Northern Trust by 2,650.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager’s stock worth $52,000 after buying an additional 371 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Northern Trust during the 2nd quarter worth about $67,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Down 0.3%

Northern Trust stock opened at $136.92 on Monday. The company has a market capitalization of $25.37 billion, a P/E ratio of 15.67, a PEG ratio of 1.08 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The stock has a 50-day simple moving average of $145.66 and a 200-day simple moving average of $136.37.

Northern Trust (NASDAQ:NTRS) last released 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. The firm had revenue of $3.15 billion for the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.26 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.3%. Northern Trust’s dividend payout ratio (DPR) is 36.61%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 3,255 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total transaction of $468,361.95. Following the transaction, the chief financial officer directly owned 14,552 shares of the company’s stock, valued at approximately $2,093,887.28. This trade represents a 18.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Clive Bellows sold 1,148 shares of Northern Trust stock in a transaction on 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 transaction, the insider owned 34,133 shares in the company, valued at approximately $4,958,159.58. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 34,905 shares of company stock valued at $5,166,714. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen increased their price objective on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 26th. Wells Fargo & Company boosted their target price on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley upped their price target on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. Evercore increased their price target on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research note on Friday, January 23rd. Finally, Citigroup started coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.75.

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.