46,124 Shares of Northern Trust Corporation $NTRS Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 46,124 shares of the asset manager’s stock, valued at approximately $7,812,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. BlackRock Inc. acquired a new stake in shares of Northern Trust during the 2nd quarter worth approximately $2,523,781,000. Primecap Management Co. CA acquired a new position in shares of Northern Trust during the 2nd quarter worth about $1,060,553,000. Dimensional Fund Advisors LP raised its holdings in shares of Northern Trust by 1.5% during 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 acquiring an additional 36,322 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Northern Trust in the 2nd quarter valued at $361,079,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Northern Trust by 2.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after buying an additional 29,490 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Up 3.1%

NTRS opened at $178.02 on Thursday. The business’s 50 day moving average is $174.80 and its two-hundred day moving average is $165.71. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. Northern Trust Corporation has a 52 week low of $121.53 and a 52 week high of $195.78. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business earned $2.29 EPS. Northern Trust’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts predict that Northern Trust Corporation will post 12.00 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 2.0%. Northern Trust’s dividend payout ratio is presently 27.59%.

Insider Buying and Selling

In related news, Director Robert Moritz, Jr. bought 236 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were bought at an average cost of $169.07 per share, for a total transaction of $39,900.52. Following the transaction, the director owned 8,636 shares of the company’s stock, valued at approximately $1,460,088.52. This trade represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Levy sold 16,984 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $168.15, for a total transaction of $2,855,859.60. Following the sale, the executive vice president directly owned 59,378 shares in the company, valued at approximately $9,984,410.70. This represents a 22.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,706 shares of company stock valued at $3,850,282 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on NTRS shares. Keefe, Bruyette & Woods reduced their price objective on Northern Trust from $175.00 to $170.00 in a research report on Thursday, October 8th. Morgan Stanley raised their price target on Northern Trust from $173.00 to $177.00 and gave the stock an “underweight” rating in a research report on Thursday, October 22nd. TD Cowen started coverage on shares of Northern Trust in a report on Thursday, October 8th. They issued a “hold” rating and a $175.00 price objective for the company. Wells Fargo & Company upped their price target on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $181.03.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.