Northwestern Mutual Wealth Management Co. Buys 170,745 Shares of Northern Trust Corporation $NTRS

Key Points

• Northwestern Mutual Wealth Management boosted its stake in Northern Trust by 1,838.1% in the fourth quarter, buying 170,745 additional shares and bringing its total holding to 180,034 shares worth about $22.8 million.
• Northern Trust reported strong quarterly results, with EPS of $2.71 versus the $2.37 consensus and revenue of $2.21 billion versus $2.13 billion expected; revenue also rose 13.8% year over year.
• The company also announced a quarterly dividend of $0.80 per share, while analysts currently have an average Hold rating on the stock with a price target of $164.08.

Northwestern Mutual Wealth Management Co. grew its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1,838.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,034 shares of the asset manager's stock after purchasing an additional 170,745 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.10% of Northern Trust worth $22,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock worth $1,285,236,000 after acquiring an additional 97,584 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Northern Trust by 6.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,378,196 shares of the asset manager's stock valued at $320,092,000 after purchasing an additional 133,751 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Northern Trust by 2.1% during 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 purchasing an additional 40,048 shares in the last quarter. First Trust Advisors LP increased its holdings in Northern Trust by 4.8% during the 3rd quarter. First Trust Advisors LP now owns 1,924,707 shares of the asset manager's stock valued at $259,066,000 after purchasing an additional 88,699 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Northern Trust by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 1,414,595 shares of the asset manager's stock valued at $190,404,000 after purchasing an additional 48,417 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Guy Gibson sold 3,009 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the completion of the transaction, the insider owned 29,332 shares in the company, valued at $4,176,583.48. This represents a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,514 shares of company stock valued at $4,890,937 over the last 90 days. Company insiders own 0.66% of the company's stock.

Northern Trust Stock Down 0.2%

Shares of NTRS opened at $164.91 on Wednesday. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The business's fifty day moving average price is $151.49 and its two-hundred day moving average price is $143.81. Northern Trust Corporation has a 52 week low of $104.09 and a 52 week high of $173.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.34. The firm 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 business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. On average, analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

The business 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. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust's dividend payout ratio (DPR) is currently 33.51%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTRS. Citigroup began coverage on Northern Trust in a report on Monday, February 23rd. They set a "neutral" rating for the company. Truist Financial raised their price target on Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a report on Wednesday, April 22nd. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Royal Bank Of Canada raised their price target on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price target on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $164.08.

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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