Ensign Peak Advisors Inc Acquires 30,375 Shares of Northern Trust Co. (NASDAQ:NTRS)

Ensign Peak Advisors Inc raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 46.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,999 shares of the asset manager’s stock after acquiring an additional 30,375 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Northern Trust were worth $8,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Northern Trust in the first quarter worth about $105,665,000. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares during the period. Panagora Asset Management Inc. grew its stake in Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after acquiring an additional 391,531 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Northern Trust by 1,677.1% during the 4th quarter. Bank of Nova Scotia now owns 362,871 shares of the asset manager’s stock worth $30,618,000 after acquiring an additional 342,452 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $91.41 on Wednesday. The firm has a fifty day simple moving average of $87.62 and a two-hundred day simple moving average of $85.43. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.82. The company has a market capitalization of $18.70 billion, a PE ratio of 20.18, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 EPS. Research analysts expect that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, September 6th. Northern Trust’s payout ratio is 66.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday. Morgan Stanley dropped their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price objective 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. Finally, The Goldman Sachs Group dropped their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.58.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 in the last three months. 0.64% of the stock is owned by insiders.

Northern Trust Company 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.