Jupiter Asset Management Ltd. Has $140.90 Million Stock Position in Northern Trust Corporation $NTRS

Key Points

• Jupiter Asset Management significantly increased its stake in Northern Trust during the fourth quarter, boosting holdings by 114.1% to 1.03 million shares worth about $140.9 million.
• Wall Street sentiment on Northern Trust is mixed but generally cautious: analysts’ average rating is Hold, with a consensus price target of $164.08, even as several firms recently raised targets or upgraded the stock.
• Northern Trust posted better-than-expected quarterly results, reporting $2.71 EPS and $2.21 billion in revenue, and it also announced a quarterly dividend of $0.80 per share, payable July 1.

Jupiter Asset Management Ltd. grew its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 114.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,031,579 shares of the asset manager's stock after acquiring an additional 549,681 shares during the period. Northern Trust accounts for approximately 1.1% of Jupiter Asset Management Ltd.'s investment portfolio, making the stock its 14th biggest holding. Jupiter Asset Management Ltd. owned approximately 0.55% of Northern Trust worth $140,903,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CWM LLC lifted its position in Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager's stock valued at $6,595,000 after acquiring an additional 26,594 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Northern Trust by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager's stock valued at $262,128,000 after acquiring an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Northern Trust in the 3rd quarter valued at about $2,253,000. Cinctive Capital Management LP boosted its holdings in Northern Trust by 113.7% during the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager's stock worth $3,895,000 after purchasing an additional 15,398 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager's stock worth $140,265,000 after purchasing an additional 400,247 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NTRS shares. Weiss Ratings upgraded shares of Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Wells Fargo & Company lifted their target price on shares of Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 22nd. BMO Capital Markets raised shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 target price on the stock in a research report on Monday, April 6th. Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Northern Trust from $153.50 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Northern Trust has an average rating of "Hold" and an average price target of $164.08.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider owned 28,217 shares of the company's stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 29,064 shares of company stock worth $4,682,064. 0.66% of the stock is currently owned by company insiders.

Northern Trust Trading Up 0.2%

NASDAQ:NTRS opened at $168.35 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $31.15 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The firm's 50 day moving average is $155.69 and its 200 day moving average is $145.76. Northern Trust Corporation has a 12 month low of $104.99 and a 12 month high of $173.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. Sell-side analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 annualized dividend and a dividend yield of 1.9%. Northern Trust's payout ratio is 33.51%.

Northern Trust Company 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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