Intech Investment Management LLC Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Intech Investment Management LLC raised its stake in Northern Trust Co. (NASDAQ:NTRS) by 64.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 93,524 shares of the asset manager’s stock after acquiring an additional 36,679 shares during the period. Intech Investment Management LLC’s holdings in Northern Trust were worth $7,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Bayesian Capital Management LP grew its position in Northern Trust by 986.3% in the 4th quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after buying an additional 34,411 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Northern Trust by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after purchasing an additional 26,129 shares during the period. Bessemer Group Inc. boosted its holdings in Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 17,574 shares in the last quarter. Finally, AIA Group Ltd increased its position in Northern Trust by 4.3% during the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after purchasing an additional 24,791 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $91.90 on Friday. The stock’s 50 day moving average price is $87.59 and its 200 day moving average price is $85.27. The firm has a market cap of $18.80 billion, a P/E ratio of 20.29, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.82.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 earnings per share. On average, sell-side analysts expect that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock worth $1,191,388 in the last three months. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley lowered their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group reduced their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.75.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.