Meeder Asset Management Inc. Takes Position in Northern Trust Corporation $NTRS

Meeder Asset Management Inc. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,328 shares of the asset manager’s stock, valued at approximately $3,186,000.

A number of other hedge funds also recently added to or reduced their stakes in NTRS. Reflection Asset Management acquired a new position in shares of Northern Trust in the fourth quarter worth $25,000. Triumph Capital Management purchased a new position in Northern Trust in the third quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after purchasing an additional 101 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Northern Trust during the 4th quarter worth $34,000. Finally, International Assets Investment Management LLC purchased a new stake in Northern Trust during the 4th quarter worth about $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Bank of America boosted their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $180.68.

Northern Trust Trading Down 0.5%

NTRS opened at $190.58 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The company has a market cap of $34.87 billion, a P/E ratio of 16.36, a PEG ratio of 1.08 and a beta of 1.25. The business’s 50-day simple moving average is $180.70 and its 200-day simple moving average is $162.65.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 earnings per share. As a group, equities research analysts expect that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s dividend payout ratio is 27.47%.

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.