43,211 Shares in Northern Trust Co. (NASDAQ:NTRS) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. acquired a new stake in Northern Trust Co. (NASDAQ:NTRS) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 43,211 shares of the asset manager’s stock, valued at approximately $3,842,000.

Several other large investors have also recently made changes to their positions in NTRS. Bayesian Capital Management LP increased its holdings in Northern Trust by 986.3% during the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock worth $3,198,000 after buying an additional 34,411 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after purchasing an additional 23,020 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after purchasing an additional 26,129 shares during the last quarter. Bessemer Group Inc. grew its holdings in Northern Trust by 668.0% during the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 17,574 shares during the period. Finally, AIA Group Ltd increased its position in Northern Trust by 4.3% in the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after buying an additional 24,791 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. The Goldman Sachs Group cut their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods lowered their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley cut their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday. Royal Bank of Canada boosted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Bank of America raised their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $87.33.

Northern Trust Price Performance

Shares of NTRS traded down $0.33 during midday trading on Wednesday, reaching $88.62. The stock had a trading volume of 210,887 shares, compared to its average volume of 1,368,211. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.46. The company’s 50-day moving average is $84.39 and its 200 day moving average is $83.53.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $1.79 earnings per share. The business’s quarterly revenue was up 53.8% on a year-over-year basis. On average, equities analysts predict that Northern Trust Co. will post 7.02 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.