Eurizon Capital SGR S.p.A. Acquires New Position in Northern Trust Corporation $NTRS

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in Northern Trust, buying 925,694 shares valued at about $126.8 million and holding 0.49% of the company.
• Northern Trust has seen mixed analyst and insider activity: several firms raised price targets or upgraded ratings, but the overall consensus remains Hold with a $164.08 target; meanwhile, one director bought shares while the CFO sold a large stake.
• The company reported strong quarterly results, with earnings of $2.71 per share and revenue of $2.21 billion beating estimates, and it also announced a quarterly dividend of $0.80 per share payable July 1.

Eurizon Capital SGR S.p.A. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 925,694 shares of the asset manager's stock, valued at approximately $126,794,000. Eurizon Capital SGR S.p.A. owned 0.49% of Northern Trust as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC grew its holdings in shares of Northern Trust by 4.9% during the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager's stock worth $223,000 after purchasing an additional 78 shares in the last quarter. Compound Planning Inc. boosted its stake in Northern Trust by 5.1% in the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager's stock worth $224,000 after buying an additional 81 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager's stock worth $598,000 after buying an additional 81 shares in the last quarter. NorthRock Partners LLC boosted its stake in Northern Trust by 2.2% in the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager's stock worth $513,000 after buying an additional 83 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Northern Trust by 2.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager's stock valued at $500,000 after purchasing an additional 84 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on NTRS shares. Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Truist Financial raised their price objective on Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research report on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Finally, BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target for the company in a research report on Monday, April 6th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and a consensus price target of $164.08.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the firm's stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,064 shares of company stock worth $4,682,064 in the last 90 days. Corporate insiders own 0.66% of the company's stock.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $165.45 on Friday. Northern Trust Corporation has a fifty-two week low of $104.99 and a fifty-two week high of $173.18. The business has a 50-day simple moving average of $156.30 and a two-hundred day simple moving average of $145.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping 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 in the previous year, the firm earned $1.90 EPS. Northern Trust's revenue was up 13.8% on a year-over-year basis. On average, analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

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

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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