Jupiter Asset Management Ltd. Makes New $64.86 Million Investment in Northern Trust Corporation $NTRS

Jupiter Asset Management Ltd. purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 481,898 shares of the asset manager’s stock, valued at approximately $64,863,000. Jupiter Asset Management Ltd. owned about 0.25% of Northern Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its stake in Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after acquiring an additional 2,363 shares during the period. Woodline Partners LP boosted its holdings in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Northern Trust by 10.0% during the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 94 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Northern Trust by 8.9% in the 2nd quarter. Nordea Investment Management AB now owns 16,530 shares of the asset manager’s stock valued at $2,086,000 after purchasing an additional 1,349 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Northern Trust by 30.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,249 shares of the asset manager’s stock worth $404,000 after buying an additional 752 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore upped their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research report on Friday, January 23rd. Wells Fargo & Company raised their price objective on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Citigroup increased their price target on Northern Trust from $143.00 to $162.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, Barclays upped their target price on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus price target of $148.75.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 245 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average cost of $151.85 per share, for a total transaction of $37,203.25. Following the transaction, the director owned 6,931 shares of the company’s stock, valued at $1,052,472.35. This trade represents a 3.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Guy Gibson sold 1,043 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $147.43, for a total transaction of $153,769.49. Following the sale, the insider directly owned 35,013 shares of the company’s stock, valued at $5,161,966.59. This represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,191 shares of company stock valued at $4,061,028. 0.77% of the stock is owned by corporate insiders.

Northern Trust Trading Down 1.7%

NASDAQ:NTRS opened at $145.02 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $157.60. The firm has a market capitalization of $27.43 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 1.27. The business’s 50-day moving average price is $144.77 and its two-hundred day moving average price is $134.66.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company had revenue of $3.15 billion during the quarter. During the same period last year, the company earned $2.26 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s dividend payout ratio (DPR) is currently 36.61%.

Northern Trust 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.