Russell Investments Group Ltd. Has $67.94 Million Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Russell Investments trimmed its stake by 2.3% to 504,852 shares of Northern Trust, representing about $67.94 million or roughly 0.27% ownership.
• Northern Trust beat quarterly EPS estimates with $2.42 (vs. $2.37) on $3.15 billion of revenue, up 8.4% year-over-year, and announced a quarterly dividend of $0.80 ($3.20 annual, ~2.3% yield).
• Analysts are mixed but have lifted price targets recently; the stock carries a consensus rating of "Hold" with an average target of about $148.75.

Russell Investments Group Ltd. lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 504,852 shares of the asset manager's stock after selling 11,745 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Northern Trust worth $67,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC increased its position in Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager's stock valued at $27,000 after buying an additional 97 shares in the last quarter. Clearstead Trust LLC acquired a new position in Northern Trust during the 2nd quarter worth approximately $29,000. Caldwell Trust Co bought a new position in Northern Trust in the second quarter worth approximately $48,000. SJS Investment Consulting Inc. grew its stake in Northern Trust by 2,650.0% in the third quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager's stock valued at $52,000 after acquiring an additional 371 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new stake in Northern Trust in the second quarter valued at approximately $67,000. Institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research reports. Evercore upped their target price on Northern Trust from $142.00 to $155.00 and gave the stock an "in-line" rating in a research report on Friday, January 23rd. Wells Fargo & Company lifted their price target on shares of Northern Trust from $145.00 to $150.00 and gave the company an "equal weight" rating in a research report on Friday, January 23rd. Zacks Research upgraded shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 23rd. The Goldman Sachs Group upped their price objective 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. Finally, Morgan Stanley lifted their price objective on shares of Northern Trust from $131.00 to $140.00 and gave the company an "underweight" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $148.75.

Northern Trust Stock Down 0.3%

NTRS opened at $137.98 on Wednesday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The firm has a market capitalization of $25.64 billion, a P/E ratio of 15.79, a PEG ratio of 1.11 and a beta of 1.27. The company's 50-day moving average is $145.61 and its 200 day moving average is $136.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 earnings per share. Research analysts expect 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. Stockholders of record on Friday, March 6th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. Northern Trust's dividend payout ratio is currently 36.61%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Richard Petrino acquired 1,000 shares of the business's stock in a transaction on Thursday, February 5th. The shares were acquired at an average price of $148.91 per share, with a total value of $148,910.00. Following the completion of the transaction, the director owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 3,255 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total value of $468,361.95. Following the completion of the transaction, the chief financial officer owned 14,552 shares of the company's stock, valued at $2,093,887.28. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,905 shares of company stock valued at $5,166,714 in the last ninety days. Insiders own 0.77% of the company's stock.

Northern Trust 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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