Integrated Quantitative Investments LLC Buys New Stake in Northern Trust Corporation $NTRS

Key Points

• Integrated Quantitative Investments opened a new Q3 position in Northern Trust, purchasing 7,282 shares valued at about $980,000.
• Northern Trust beat quarterly EPS expectations ($2.42 vs. $2.37) with $3.15B in revenue (up 8.4%), pays a $0.80 quarterly dividend (annual $3.20, ~2.2% yield), and trades near $145 with a market cap of roughly $27B and a P/E of 16.6.
• Insiders sold 28,641 shares (~$4.27M) in the last quarter — including a 25,000-share sale by the COO — while institutional ownership is about 83.19% and analysts carry a consensus Hold rating with a $148.75 price target.

Integrated Quantitative Investments LLC purchased a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,282 shares of the asset manager's stock, valued at approximately $980,000.

A number of other institutional investors have also recently made changes to their positions in NTRS. AlphaCore Capital LLC boosted its stake in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager's stock valued at $27,000 after buying an additional 97 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager's stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Clearstead Trust LLC purchased a new position in shares of Northern Trust in the second quarter valued at $29,000. Caldwell Trust Co purchased a new stake in Northern Trust during the second quarter valued at $48,000. Finally, SJS Investment Consulting Inc. lifted its position in Northern Trust by 2,650.0% during the third quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager's stock valued at $52,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Trading Up 2.0%

Shares of NTRS opened at $145.07 on Thursday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $157.60. The stock has a market cap of $26.96 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.27. The firm's fifty day moving average is $145.62 and its two-hundred day moving average is $135.83. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.05. The firm had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Research analysts forecast that Northern Trust Corporation will post 8.27 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, April 1st. Investors of record on Friday, March 6th will be issued a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. Northern Trust's dividend payout ratio is currently 36.61%.

Insiders Place Their Bets

In other Northern Trust news, insider Guy Gibson sold 1,043 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $147.43, for a total transaction of $153,769.49. Following the completion of the transaction, the insider owned 35,013 shares of the company's stock, valued at $5,161,966.59. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Peter Cherecwich sold 25,000 shares of the firm's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the transaction, the chief operating officer owned 26,259 shares of the company's stock, valued at $3,928,871.58. This trade represents a 48.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,641 shares of company stock worth $4,269,900. Corporate insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NTRS. Barclays upped their target price on Northern Trust from $136.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday, January 5th. Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a research report on Saturday, December 27th. Weiss Ratings restated a "buy (b-)" rating on shares of Northern Trust in a research note on Thursday, January 22nd. Morgan Stanley boosted their price objective on Northern Trust from $131.00 to $140.00 and gave the company an "underweight" rating in a research report on Friday, January 23rd. Finally, Truist Financial set a $148.00 price target on shares of Northern Trust in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $148.75.

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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