TD Waterhouse Canada Inc. Invests $96,000 in Northern Trust Corporation $NTRS

TD Waterhouse Canada Inc. acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 750 shares of the asset manager’s stock, valued at approximately $96,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Primecap Management Co. CA boosted its stake in shares of Northern Trust by 19.5% in the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after purchasing an additional 1,270,748 shares in the last quarter. Invesco Ltd. increased its position in Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after purchasing an additional 558,287 shares in the last quarter. LSV Asset Management lifted its stake in Northern Trust by 154.0% in the 2nd quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock valued at $102,191,000 after purchasing an additional 488,690 shares during the last quarter. RNC Capital Management LLC bought a new position in Northern Trust in the 1st quarter valued at approximately $41,905,000. Finally, Nuveen LLC acquired a new stake in Northern Trust in the first quarter valued at approximately $41,834,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTRS. BMO Capital Markets started coverage on shares of Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target for the company. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Citigroup lifted their price target on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, Morgan Stanley boosted their price target on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $132.46.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 3,891 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $128.57 per share, with a total value of $500,265.87. Following the completion of the purchase, the director directly owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $129.93 on Wednesday. The firm has a market cap of $24.57 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.37 and a beta of 1.32. The stock’s 50 day moving average is $128.93 and its 200 day moving average is $123.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company earned $2.22 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust’s payout ratio is presently 37.30%.

About Northern Trust

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.