Caisse de depot et placement du Quebec Acquires New Holdings in Northern Trust Corporation $NTRS

Caisse de depot et placement du Quebec bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 458,107 shares of the asset manager’s stock, valued at approximately $79,637,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Northern Trust in the 3rd quarter worth approximately $25,000. Reflection Asset Management acquired a new position in shares of Northern Trust during the fourth quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC increased its stake in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the second quarter worth approximately $31,000. Finally, Elyxium Wealth LLC acquired a new stake in Northern Trust in the fourth quarter worth approximately $34,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Down 0.7%

Shares of Northern Trust stock opened at $186.27 on Friday. The stock’s fifty day moving average is $182.57 and its 200-day moving average is $164.39. The firm has a market capitalization of $34.08 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.06 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.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results 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. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.Northern Trust’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. Equities analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s payout ratio is currently 27.47%.

Insider Activity

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction that occurred on 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 transaction, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NTRS. Morgan Stanley increased their price target on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Barclays boosted their price objective on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group set a $186.00 price target on shares of Northern Trust in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Company 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.