116,762 Shares in Northern Trust Corporation $NTRS Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 116,762 shares of the asset manager’s stock, valued at approximately $20,298,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Northern Trust during the 2nd quarter worth about $2,523,781,000. Bank of New York Mellon Corp acquired a new position in shares of Northern Trust during the second quarter valued at about $361,079,000. Norges Bank bought a new stake in shares of Northern Trust in the fourth quarter valued at about $257,410,000. Eurizon Capital SGR S.p.A. acquired a new stake in Northern Trust during the fourth quarter worth about $126,794,000. Finally, Deutsche Bank AG acquired a new stake in Northern Trust during the second quarter worth about $144,091,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of NTRS opened at $183.90 on Monday. The stock has a market cap of $33.65 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.04 and a beta of 1.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The company has a 50-day moving average price of $181.52 and a two-hundred day moving average price of $163.35.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $2.13 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. Equities analysts predict that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is presently 27.47%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Truist Financial upped their target price on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Evercore set a $179.00 price target on shares of Northern Trust in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $180.68.

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.