Inceptionr LLC Acquires Shares of 10,987 Northern Trust Corporation $NTRS

Key Points

• Inceptionr LLC initiated a new position in Northern Trust, buying 10,987 shares valued at about $1.5 million. The stake represents roughly 0.4% of Inceptionr’s portfolio and is now its 28th-largest holding.
• Northern Trust reported better-than-expected quarterly earnings, with EPS of $2.71 versus the $2.37 estimate and revenue of $2.21 billion versus $2.13 billion expected. Revenue rose 13.8% year over year.
• The company also announced a quarterly dividend of $0.80 per share, payable July 1, implying an annualized yield of about 1.9%. Analysts currently rate the stock a consensus “Hold” with an average target price of $164.08.

Inceptionr LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,987 shares of the asset manager's stock, valued at approximately $1,501,000. Northern Trust accounts for approximately 0.4% of Inceptionr LLC's holdings, making the stock its 28th largest position.

Other large investors also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in Northern Trust in the 3rd quarter valued at about $25,000. Board of the Pension Protection Fund purchased a new stake in Northern Trust in the 4th quarter valued at about $27,000. Elyxium Wealth LLC purchased a new stake in Northern Trust in the 4th quarter valued at about $34,000. International Assets Investment Management LLC purchased a new stake in Northern Trust in the 4th quarter valued at about $35,000. Finally, Zions Bancorporation National Association UT boosted its position in Northern Trust by 179.2% in the 4th quarter. Zions Bancorporation National Association UT now owns 268 shares of the asset manager's stock valued at $37,000 after buying an additional 172 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Truist Financial raised their target price on shares of Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research 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. Wells Fargo & Company boosted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $164.08.

Northern Trust Stock Down 2.6%

Shares of Northern Trust stock opened at $166.13 on Thursday. The company has a market cap of $30.74 billion, a P/E ratio of 17.40, a PEG ratio of 1.22 and a beta of 1.25. Northern Trust Corporation has a 52-week low of $107.08 and a 52-week high of $173.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average price is $161.46 and its 200-day moving average price is $148.39.

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

Northern Trust Announces Dividend

The business 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 dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's payout ratio is currently 33.51%.

Insiders Place Their Bets

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

About Northern Trust

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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