Northwestern Mutual Wealth Management Co. Makes New Investment in Northern Trust Corporation $NTRS

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,967 shares of the asset manager’s stock, valued at approximately $2,254,000.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Northern Trust in the 2nd quarter valued at $2,523,781,000. State Street Corp boosted its holdings in Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after acquiring an additional 97,584 shares during the last quarter. Invesco Ltd. grew its stake in shares of Northern Trust by 8.7% in the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock worth $511,917,000 after acquiring an additional 301,164 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after purchasing an additional 36,322 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price for the company. in a report on Wednesday, July 22nd. Evercore set a $179.00 price target on Northern Trust in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Bank of America raised their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $180.68.

Insider Activity

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Northern Trust Trading Up 1.5%

Shares of NTRS opened at $186.66 on Tuesday. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The business has a 50-day moving average of $181.79 and a 200 day moving average of $163.61. The firm has a market cap of $34.15 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business earned $2.13 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is 27.47%.

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.