OP Asset Management Ltd Acquires New Stake in Northern Trust Corporation $NTRS

OP Asset Management Ltd bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,405 shares of the asset manager’s stock, valued at approximately $2,708,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Northern Trust in the third quarter valued at about $25,000. Reflection Asset Management bought a new position in shares of Northern Trust during the fourth quarter worth about $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust in the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new stake in Northern Trust in the 4th quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC bought a new stake in Northern Trust in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 1.2%

NTRS stock opened at $173.87 on Friday. The company has a market cap of $32.17 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.24 and a beta of 1.25. Northern Trust Corporation has a twelve month low of $118.99 and a twelve month high of $178.70. The business has a 50 day moving average price of $167.67 and a two-hundred day moving average price of $151.88. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that Northern Trust Corporation will post 10.72 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NTRS shares. Barclays raised their price target on shares of Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada boosted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Truist Financial increased their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.62.

Insider Buying and Selling at Northern Trust

In related news, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the sale, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at $3,088,582.08. The trade was a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 over the last quarter. 0.66% of the stock is currently owned by insiders.

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.