Brevan Howard Capital Management LP Increases Position in Northern Trust Corporation $NTRS

Brevan Howard Capital Management LP lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 252.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,373 shares of the asset manager’s stock after acquiring an additional 18,177 shares during the period. Brevan Howard Capital Management LP’s holdings in Northern Trust were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaCore Capital LLC lifted its position in Northern Trust by 87.4% during 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 period. Caldwell Trust Co acquired a new position in shares of Northern Trust in the second quarter valued at about $48,000. SJS Investment Consulting Inc. increased its holdings in shares of Northern Trust by 2,650.0% in the third quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 371 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Northern Trust in the second quarter worth about $67,000. Finally, Root Financial Partners LLC purchased a new position in shares of Northern Trust in the third quarter worth about $77,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 1,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total transaction of $166,758.48. Following 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David W. Fox, Jr. sold 3,255 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total value of $468,361.95. Following the completion of the sale, the chief financial officer directly owned 14,552 shares in the company, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,905 shares of company stock worth $5,166,714 over the last quarter. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. 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. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Evercore increased their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $148.75.

Northern Trust Stock Performance

NTRS opened at $136.49 on Tuesday. The firm has a fifty day moving average price of $145.51 and a 200 day moving average price of $136.41. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The stock has a market cap of $25.29 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.08 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 0.69.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company had revenue of $3.15 billion for the quarter. During the same quarter in the prior year, the business posted $2.26 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

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%.

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.