Cerity Partners LLC Grows Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Cerity Partners LLC increased its Northern Trust stake by 6.9% in the fourth quarter, buying 33,728 shares and bringing its total holdings to 524,081 shares worth about $71.6 million.
• Northern Trust reported stronger-than-expected quarterly results, with EPS of $2.71 versus the $2.37 consensus and revenue of $2.21 billion, up 13.8% year over year.
• The company also announced a quarterly dividend of $0.80 per share, while analysts currently have a consensus rating of Hold on the stock.

Cerity Partners LLC grew its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,081 shares of the asset manager's stock after purchasing an additional 33,728 shares during the quarter. Cerity Partners LLC owned about 0.28% of Northern Trust worth $71,584,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Brandywine Global Investment Management LLC lifted its stake in Northern Trust by 23.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 246,036 shares of the asset manager's stock worth $33,606,000 after purchasing an additional 46,500 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Northern Trust by 601.3% in the 4th quarter. Manchester Capital Management LLC now owns 561 shares of the asset manager's stock worth $77,000 after purchasing an additional 481 shares in the last quarter. Syon Capital LLC lifted its stake in Northern Trust by 30.7% in the 4th quarter. Syon Capital LLC now owns 7,463 shares of the asset manager's stock worth $1,019,000 after purchasing an additional 1,755 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Northern Trust in the 4th quarter worth approximately $111,000. Finally, Havemeyer Place LP purchased a new position in Northern Trust in the 4th quarter worth approximately $166,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Up 0.9%

Shares of NASDAQ NTRS opened at $170.60 on Wednesday. Northern Trust Corporation has a 1 year low of $107.08 and a 1 year high of $173.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day simple moving average of $160.86 and a 200-day simple moving average of $148.10. The company has a market capitalization of $31.57 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.21 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust's dividend payout ratio (DPR) is 33.51%.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz bought 225 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 22,800 shares of company stock worth $3,785,251. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTRS. Wells Fargo & Company raised their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Barclays raised their price target on shares of Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Citigroup began coverage on shares of Northern Trust in a report on Monday, February 23rd. They set a "neutral" rating for the company. Finally, BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target for the company in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus target price of $164.08.

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.

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.