317,300 Shares in Northern Trust Corporation (NASDAQ:NTRS) Purchased by LSV Asset Management

Key Points

• LSV Asset Management has acquired a new position in Northern Trust Corporation, purchasing 317,300 shares valued at approximately $31.3 million, representing about 0.16% of the company.
• Insider selling has been noted, with two executives offloading shares recently, including EVP Clive Bellows who sold 3,300 shares valued at over $329,000.
• Northern Trust's stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $116.58.

LSV Asset Management bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 317,300 shares of the asset manager's stock, valued at approximately $31,302,000. LSV Asset Management owned approximately 0.16% of Northern Trust at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NTRS. Bank of New York Mellon Corp raised its stake in Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Royal Bank of Canada raised its stake in Northern Trust by 60.2% during the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after acquiring an additional 562,976 shares in the last quarter. Cerity Partners LLC raised its stake in Northern Trust by 451.9% during the fourth quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager's stock worth $56,866,000 after acquiring an additional 454,956 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Northern Trust during the fourth quarter worth about $46,197,000. Finally, GAMMA Investing LLC raised its stake in Northern Trust by 10,340.5% during the first quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock worth $43,959,000 after acquiring an additional 441,334 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NTRS shares. Wall Street Zen raised Northern Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial upped their price objective on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $118.00 price objective (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Finally, Evercore ISI upped their price objective on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $116.58.

Insider Buying and Selling

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider owned 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock worth $981,069 over the last 90 days. Company insiders own 0.77% of the company's stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $127.06 on Monday. The business's 50 day simple moving average is $119.53 and its 200 day simple moving average is $108.05. Northern Trust Corporation has a one year low of $80.81 and a one year high of $133.00. The stock has a market capitalization of $24.30 billion, a PE ratio of 14.93, a PEG ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the business posted $4.34 earnings per share. The firm's revenue was down 26.4% on a year-over-year basis. As a group, research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is currently 35.25%.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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