Northern Trust Corporation $NTRS Shares Purchased by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its Northern Trust stake by 3.9% in the fourth quarter, ending with 400,809 shares worth about $55.2 million. Institutional investors now hold roughly 83.19% of the stock.
• Northern Trust reported better-than-expected quarterly results, posting EPS of $2.71 versus the $2.37 consensus and revenue of $2.21 billion versus $2.13 billion expected. Revenue rose 13.8% year over year.
• The company announced a quarterly dividend of $0.80 per share, payable July 1, implying an annualized dividend of $3.20 and a yield of about 1.9%. Analysts currently have a consensus rating of “Hold” with an average price target of $164.08.

Corient Private Wealth LLC boosted its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,809 shares of the asset manager's stock after buying an additional 15,221 shares during the quarter. Corient Private Wealth LLC owned approximately 0.22% of Northern Trust worth $55,154,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager's stock worth $6,595,000 after acquiring an additional 26,594 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Northern Trust during the third quarter worth approximately $2,253,000. Cinctive Capital Management LP raised its stake in Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager's stock valued at $3,895,000 after purchasing an additional 15,398 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in Northern Trust by 119.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager's stock valued at $11,195,000 after purchasing an additional 45,356 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Northern Trust by 62.4% in the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager's stock valued at $140,265,000 after purchasing an additional 400,247 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the director owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the company'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 completion of the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock valued at $3,785,251 over the last ninety days. Company insiders own 0.66% of the company's stock.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $172.11 on Friday. Northern Trust Corporation has a 52-week low of $111.42 and a 52-week high of $176.99. The stock has a market cap of $31.85 billion, a P/E ratio of 18.02, a PEG ratio of 1.23 and a beta of 1.25. The business has a fifty day moving average of $165.57 and a two-hundred day moving average of $150.37. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

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 the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company's quarterly 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, research analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. Northern Trust's payout ratio is 33.51%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTRS. Royal Bank Of Canada lifted their target price on shares of Northern Trust from $159.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Barclays increased their target price on shares of Northern Trust from $160.00 to $176.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target 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. Wells Fargo & Company upped their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective for the company in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $164.08.

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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