EFG International AG Makes New $2.15 Million Investment in Northern Trust Corporation $NTRS

EFG International AG purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,357 shares of the asset manager’s stock, valued at approximately $2,148,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTRS. Reflection Asset Management acquired a new stake in shares of Northern Trust during the 4th quarter worth about $25,000. Triumph Capital Management acquired a new position in Northern Trust in the third quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC increased its stake in Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Northern Trust during the second quarter worth approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 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, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their position. The SEC filing for this purchase provides additional information. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NTRS shares. Citigroup lifted their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Bank of America boosted their price target on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Barclays increased their price objective on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus price target of $180.68.

Northern Trust Trading Up 0.4%

Northern Trust stock opened at $187.66 on Thursday. The stock has a 50-day moving average price of $182.29 and a 200 day moving average price of $164.15. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78. The stock has a market cap of $34.33 billion, a PE ratio of 16.11, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $2.13 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is currently 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.