IFM Investors Pty Ltd Boosts Stake in Northern Trust Corporation (NASDAQ:NTRS)

IFM Investors Pty Ltd lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,938 shares of the asset manager's stock after purchasing an additional 3,834 shares during the period. IFM Investors Pty Ltd's holdings in Northern Trust were worth $4,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Ellevest Inc. lifted its stake in shares of 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 purchasing an additional 113 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Northern Trust by 4.0% in the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock valued at $365,000 after purchasing an additional 137 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Northern Trust by 29.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after purchasing an additional 137 shares during the period. Amalgamated Bank lifted its stake in shares of 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 purchasing an additional 172 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of 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 purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

NASDAQ NTRS traded down $3.20 on Monday, hitting $128.50. 2,475,956 shares of the company traded hands, compared to its average volume of 1,434,650. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.97 and a beta of 1.26. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $109.22 and its 200-day moving average price is $104.63. Northern Trust Corporation has a 52-week low of $80.81 and a 52-week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its 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. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. Equities analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. Northern Trust's payout ratio is 27.99%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTRS. The Goldman Sachs Group upped their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Truist Financial increased their target price on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday. Bank of America cut their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company cut their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus target price of $114.67.

Insider Activity

In other news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider directly owned 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president owned 28,736 shares in the company, valued at $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last 90 days. Company insiders own 0.77% of the company's stock.

Northern Trust Profile

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.