Corient Private Wealth LP Invests $66.21 Million in Northern Trust Corporation $NTRS

Corient Private Wealth LP purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, Holdings Channel reports. The institutional investor purchased 380,884 shares of the asset manager’s stock, valued at approximately $66,213,000.

Several other hedge funds also recently modified their holdings of NTRS. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Northern Trust during the fourth quarter worth about $67,126,000. Northwestern Mutual Wealth Management Co. raised its holdings in Northern Trust by 1,838.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock valued at $22,793,000 after buying an additional 170,745 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after buying an additional 161,826 shares during the period. Strs Ohio boosted its position in Northern Trust by 83.0% during the 4th quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock worth $18,631,000 after buying an additional 61,858 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Northern Trust by 17.7% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 256,700 shares of the asset manager’s stock worth $35,063,000 after acquiring an additional 38,600 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wells Fargo & Company increased their price objective on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley raised their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Citigroup lifted their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Finally, Evercore set a $179.00 price target on Northern Trust in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Stock Down 0.7%

Shares of NASDAQ NTRS opened at $186.27 on Friday. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50 day moving average price is $182.57 and its 200-day moving average price is $164.39. The company has a market capitalization of $34.08 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25.

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

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is 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.