8,764 Northern Trust Corporation $NTRS Shares Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Northern Trust stake by 11.6% in the third quarter, buying 8,764 shares and bringing its holdings to 84,592 shares valued at approximately $14.3 million. Institutional investors and hedge funds own 83.19% of the company.
• Northern Trust reported quarterly EPS of $3.40, exceeding the $2.87 analyst consensus, while revenue rose 13.4% year over year to $2.30 billion. The company also declared a quarterly dividend of $0.88, representing a 2.1% yield.
• Analysts maintain a generally cautious view, with Northern Trust receiving an average “Hold” rating and an average price target of $181.03. The stock opened at $169.16, down 2.2%, while insiders sold $3.85 million worth of shares over the past three months.

Asset Management One Co. Ltd. lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,592 shares of the asset manager's stock after acquiring an additional 8,764 shares during the period. Asset Management One Co. Ltd.'s holdings in Northern Trust were worth $14,327,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NTRS. BlackRock Inc. acquired a new position in shares of Northern Trust in the 2nd quarter valued at about $2,523,781,000. Primecap Management Co. CA acquired a new position in shares of Northern Trust during the second quarter worth about $1,060,553,000. Bank of New York Mellon Corp purchased a new stake in shares of Northern Trust in the second quarter worth about $361,079,000. Legal & General Group Plc purchased a new stake in shares of Northern Trust in the second quarter worth about $207,054,000. Finally, Man Group plc acquired a new stake in shares of Northern Trust in the second quarter valued at about $147,718,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Capital One Financial set a $190.00 target price on Northern Trust in a research report on Tuesday, October 6th. TD Cowen assumed coverage on shares of Northern Trust in a research report on Thursday, October 8th. They issued a "hold" rating and a $175.00 target price for the company. Royal Bank Of Canada lowered shares of Northern Trust from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $159.00 to $178.00 in a research note on Wednesday, July 22nd. The Goldman Sachs Group increased their price target on shares of Northern Trust from $190.00 to $192.00 and gave the stock a "neutral" rating in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods decreased their price target on Northern Trust from $175.00 to $170.00 in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and an average target price of $181.03.

Northern Trust Stock Down 2.2%

NASDAQ NTRS opened at $169.16 on Friday. Northern Trust Corporation has a 12 month low of $121.53 and a 12 month high of $195.78. The company has a market capitalization of $30.95 billion, a P/E ratio of 13.26, a PEG ratio of 0.89 and a beta of 1.24. The company's 50 day simple moving average is $175.52 and its 200 day simple moving average is $165.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.53. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 11.95 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust's dividend payout ratio (DPR) is presently 27.59%.

Insider Activity at Northern Trust

In related news, EVP Susan Levy sold 16,984 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $168.15, for a total value of $2,855,859.60. Following the completion of the sale, the executive vice president owned 59,378 shares in the company, valued at approximately $9,984,410.70. This represents a 22.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas 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. Over the last three months, insiders sold 22,706 shares of company stock worth $3,850,282. 0.66% of the stock is currently owned by insiders.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.