Hussman Strategic Advisors Inc. Raises Stock Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Hussman Strategic Advisors Inc. increased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 66.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,500 shares of the asset manager's stock after purchasing an additional 4,200 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Northern Trust were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NTRS. Ellevest Inc. raised its holdings in Northern Trust by 3.4% in the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock valued at $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 period. 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 period. Parallel Advisors LLC raised its holdings in 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 acquiring an additional 182 shares during the period. Finally, True Wealth Design LLC raised its holdings in 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 acquiring an additional 194 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

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

Analysts Set New Price Targets

Several brokerages have recently commented on NTRS. Bank of America lowered their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup lowered their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Evercore ISI raised their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Truist Financial increased their price target on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $114.50.

Northern Trust Trading Up 0.7%

Shares of NTRS stock traded up $0.87 during trading hours on Friday, hitting $127.93. 1,382,070 shares of the company's stock traded hands, compared to its average volume of 1,429,865. Northern Trust Corporation has a 12 month low of $80.81 and a 12 month high of $133.00. The stock's 50 day simple moving average is $115.18 and its 200 day simple moving average is $106.21. The stock has a market cap of $24.89 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's dividend payout ratio is presently 27.99%.

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.