3,743 Shares in Northern Trust Corporation (NASDAQ:NTRS) Acquired by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. acquired 3,743 shares of Northern Trust Corporation, valued at approximately $364,000, marking an increase in institutional investment in the company.
• Insiders including EVP Clive Bellows and Teresa Parker sold a combined total of 9,772 shares in the past three months, indicating a decrease in their respective ownership stakes.
• Northern Trust announced a quarterly dividend increase from $0.75 to $0.80 per share, representing an annualized yield of 2.46%, with a payout ratio of 35.25%.

Navellier & Associates Inc. purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,743 shares of the asset manager's stock, valued at approximately $364,000.

Other large investors have also made changes to their positions in the company. Ellevest Inc. raised its position in shares of Northern Trust by 3.4% in the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock worth $350,000 after acquiring an additional 113 shares during the period. Amalgamated Bank raised its holdings in Northern Trust by 0.5% in the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock valued at $3,755,000 after acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp raised its holdings in Northern Trust by 1.7% in the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock valued at $1,073,000 after acquiring an additional 179 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Northern Trust by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock valued at $175,000 after buying an additional 182 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after buying an additional 194 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Northern Trust Stock Up 1.0%

Shares of NASDAQ:NTRS opened at $130.03 on Friday. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.91 and a beta of 1.26. The firm's 50-day simple moving average is $117.19 and its 200-day simple moving average is $107.07. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $133.00.

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

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.46%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is presently 35.25%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NTRS shares. Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a research report on Saturday. Evercore ISI raised their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. The Goldman Sachs Group lifted their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Finally, Bank of America cut their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and an average price target of $116.58.

About Northern Trust

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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