Northern Trust Corporation $NTRS Stock: Robeco Institutional Asset Management B.V. Boosts Stake

Key Points

• Robeco Institutional Asset Management increased its Northern Trust stake by 2% in the third quarter, bringing its holdings to 1.50 million shares valued at approximately $254.2 million. Institutional investors collectively own 83.19% of the company.
• Analysts maintain a consensus “Hold” rating on NTRS, with an average price target of $183.93; the stock recently opened at $165.44.
• Northern Trust reported strong quarterly results, posting $4.23 in earnings per share versus the $2.71 consensus estimate, while revenue rose 35.1% year over year. The company also declared a quarterly dividend of $0.88 per share, representing a 2.1% yield.

Robeco Institutional Asset Management B.V. lifted its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,500,961 shares of the asset manager's stock after buying an additional 29,490 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.82% of Northern Trust worth $254,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $25,000. Continuum Advisory LLC acquired a new position in shares of Northern Trust in the second quarter valued at $26,000. Basecamp Wealth Advisors LLC raised its stake in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. NBH Bank acquired a new position in shares of Northern Trust in the second quarter valued at $30,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Northern Trust in the second quarter worth $31,000. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Evercore set a $183.00 price objective on shares of Northern Trust in a research note on Thursday, October 1st. Capital One Financial set a $190.00 price objective on shares of Northern Trust in a report on Tuesday, October 6th. Zacks Research lowered shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, Royal Bank Of Canada lowered shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $183.93.

Northern Trust Trading Up 0.6%

Shares of NTRS opened at $165.44 on Wednesday. Northern Trust Corporation has a 1 year low of $121.53 and a 1 year high of $195.78. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $178.63 and a 200-day simple moving average of $173.50. The stock has a market cap of $30.27 billion, a PE ratio of 14.20, a PEG ratio of 0.93 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping the consensus estimate of $2.71 by $1.52. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%. Northern Trust's revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $2.13 EPS. On average, sell-side analysts predict that Northern Trust Corporation will post 11.65 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust's dividend payout ratio is 30.21%.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease 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, Director Robert Moritz, Jr. acquired 255 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.66% of the company's stock.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.

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