Choate Investment Advisors Grows Stock Position in Northern Trust Corporation $NTRS

Key Points

• Choate Investment Advisors boosted its stake in Northern Trust by 631.1% in the fourth quarter, ending with 11,347 shares worth about $1.55 million.
• Northern Trust reported strong quarterly results, with EPS of $2.71 beating estimates and revenue of $2.21 billion topping forecasts; revenue also rose 13.8% year over year.
• The company announced a quarterly dividend of $0.80 per share and drew mixed analyst sentiment, with an average rating of “Hold” and a consensus price target of $164.08.

Choate Investment Advisors increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 631.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,347 shares of the asset manager's stock after buying an additional 9,795 shares during the quarter. Choate Investment Advisors' holdings in Northern Trust were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new position in shares of Northern Trust in the 3rd quarter worth about $25,000. Board of the Pension Protection Fund purchased a new position in shares of Northern Trust in the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in shares of Northern Trust in the 4th quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in shares of Northern Trust in the 4th quarter worth about $35,000. Finally, Olistico Wealth LLC purchased a new position in shares of Northern Trust in the 4th quarter worth about $41,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Price Performance

NTRS stock opened at $167.77 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a 1 year low of $104.09 and a 1 year high of $173.18. The firm has a market cap of $31.05 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The stock has a 50-day simple moving average of $153.77 and a 200-day simple moving average of $144.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays raised their price objective on Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Citigroup assumed coverage on Northern Trust in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. BMO Capital Markets upgraded Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a report on Monday, April 6th. Royal Bank Of Canada raised their price objective on Northern Trust from $159.00 to $178.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Northern Trust from $153.50 to $170.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $164.08.

Insiders Place Their Bets

In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the sale, the insider owned 29,332 shares in the company, valued at $4,176,583.48. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 30,514 shares of company stock worth $4,890,937 in the last quarter. Company insiders own 0.66% of the company's stock.

Northern Trust 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.

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