Northern Trust Corporation $NTRS Shares Purchased by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management boosted its stake in Northern Trust by 119.9% in Q3 to 83,175 shares valued at $11.20 million, and institutional investors collectively own about 83.19% of the stock.
• Northern Trust reported Q earnings of $2.42 EPS, beating estimates by $0.05 on $3.15 billion in revenue (up 8.4% YoY), and announced a quarterly dividend of $0.80 ($3.20 annualized, ~2.4% yield).
• Insider activity included Director Richard Petrino buying 1,000 shares at $148.91 while insiders sold roughly 34,905 shares (~$5.17M) over 90 days; analysts' consensus is a "Hold" with an average target of about $148.75.

Swiss Life Asset Management Ltd increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 119.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,175 shares of the asset manager's stock after buying an additional 45,356 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Northern Trust were worth $11,195,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Northern Trust by 2.1% in the third 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 purchasing an additional 40,048 shares during the period. iSAM Funds UK Ltd acquired a new stake in Northern Trust during the third quarter worth about $2,253,000. Jupiter Asset Management Ltd. purchased a new position in Northern Trust during the third quarter worth about $64,863,000. Barclays PLC boosted 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 during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Northern Trust by 228.0% in the 3rd quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager's stock valued at $10,207,000 after buying an additional 52,711 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Down 0.0%

Shares of NASDAQ:NTRS opened at $135.74 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The firm's 50 day moving average price is $144.84 and its 200 day moving average price is $136.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company had revenue of $3.15 billion for the quarter. During the same period in the prior year, the company posted $2.26 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced 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. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust's dividend payout ratio is 36.61%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Northern Trust from $130.00 to $148.00 and gave the stock a "sell" rating in a report on Wednesday, January 28th. Truist Financial set a $148.00 price objective on Northern Trust in a research report on Wednesday, January 7th. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 23rd. Barclays lifted their target price on Northern Trust from $136.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada upped their price target on Northern Trust from $139.00 to $159.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $148.75.

Insider Buying and Selling

In other Northern Trust news, Director Richard Petrino purchased 1,000 shares of the firm's stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $148.91 per share, with a total value of $148,910.00. Following the acquisition, the director directly owned 3,332 shares of the company's stock, valued at approximately $496,168.12. This represents a 42.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Guy Gibson sold 3,009 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the transaction, the insider directly owned 29,332 shares of the company's stock, valued at approximately $4,176,583.48. This represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,905 shares of company stock valued at $5,166,714 over the last 90 days. 0.77% of the stock is currently owned by corporate insiders.

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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