Meeder Asset Management Inc. Has $7.05 Million Holdings in Northern Trust Corporation $NTRS

Meeder Asset Management Inc. increased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 46.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,337 shares of the asset manager’s stock after purchasing an additional 16,674 shares during the quarter. Meeder Asset Management Inc.’s holdings in Northern Trust were worth $7,045,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $276,087,000. Primecap Management Co. CA lifted its stake in shares of Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after acquiring an additional 1,270,748 shares during the period. Marshall Wace LLP boosted its holdings in Northern Trust by 2,397.3% in the second quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock valued at $83,304,000 after acquiring an additional 630,717 shares during the last quarter. Rokos Capital Management LLP bought a new stake in Northern Trust in the second quarter valued at approximately $73,888,000. Finally, LSV Asset Management increased its position in Northern Trust by 154.0% during 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 period. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Up 1.0%

NTRS stock opened at $145.74 on Monday. The firm has a market capitalization of $27.56 billion, a PE ratio of 16.99, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $146.00. The stock’s 50 day moving average is $134.39 and its 200-day moving average is $130.60.

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

Northern Trust Announces Dividend

The company also recently announced 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 dividend payout ratio is currently 37.30%.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Landers sold 766 shares of the company’s 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 of the company’s stock, valued at $909,371.55. The trade was a 9.48% 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 owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTRS. Morgan Stanley boosted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Evercore ISI boosted their target price on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Barclays increased their price target on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. The Goldman Sachs Group restated a “sell” rating and set a $130.00 target price on shares of Northern Trust in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average price target of $136.00.

About Northern Trust

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.