Meeder Asset Management Inc. Increases Holdings in Northern Trust Corporation $NTRS

Meeder Asset Management Inc. increased its stake in Northern Trust Corporation (NASDAQ:NTRS) by 46.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 52,337 shares of the asset manager’s stock after buying an additional 16,674 shares during the period. Meeder Asset Management Inc.’s holdings in Northern Trust were worth $7,045,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in NTRS. Cullen Frost Bankers Inc. lifted its stake in Northern Trust by 84.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager’s stock worth $199,000 after purchasing an additional 719 shares in the last quarter. First Pacific Financial bought a new position in shares of Northern Trust in the second quarter worth $3,118,000. Aviva PLC raised its position in shares of Northern Trust by 8.4% in the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock worth $19,007,000 after buying an additional 11,587 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Northern Trust by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 1,907,408 shares of the asset manager’s stock valued at $241,840,000 after buying an additional 96,592 shares during the period. Finally, Advisory Services Network LLC grew its position in Northern Trust by 25.7% during the second quarter. Advisory Services Network LLC now owns 40,090 shares of the asset manager’s stock worth $5,212,000 after buying an additional 8,201 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays upped their target price on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. The Goldman Sachs Group restated a “sell” rating and issued a $130.00 price objective on shares of Northern Trust in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research note on Thursday, October 23rd. Truist Financial set a $148.00 price target on shares of Northern Trust in a research note on Wednesday. Finally, Evercore ISI increased their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Five investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $136.00.

Northern Trust Stock Up 1.0%

Shares of NASDAQ NTRS opened at $145.74 on Monday. The stock has a market capitalization of $27.56 billion, a P/E ratio of 16.99, a PEG ratio of 1.21 and a beta of 1.27. Northern Trust Corporation has a one year low of $81.62 and a one year high of $146.00. The firm’s 50 day simple moving average is $134.39 and its two-hundred day simple moving average is $130.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70.

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

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 5th were issued a $0.80 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. Northern Trust’s payout ratio is currently 37.30%.

Insider Activity

In related news, insider John Landers sold 766 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. This represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the firm’s 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 transaction, the executive vice president owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Company 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.