First American Bank Invests $747,000 in Northern Trust Corporation $NTRS

First American Bank bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, Holdings Channel reports. The institutional investor bought 5,548 shares of the asset manager’s stock, valued at approximately $747,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Northern Trust by 0.8% during the second quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after purchasing an additional 188,472 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Northern Trust by 19.5% during the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after buying an additional 1,270,748 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Northern Trust by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after acquiring an additional 184,726 shares during the last quarter. Invesco Ltd. grew its position in Northern Trust by 1.7% in the second quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock worth $443,971,000 after acquiring an additional 58,029 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Northern Trust by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 2,692,597 shares of the asset manager’s stock valued at $341,399,000 after purchasing an additional 33,227 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial dropped their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a research report on Tuesday, September 30th. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Stock Performance

NTRS stock opened at $139.71 on Tuesday. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $141.25. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.51 and a beta of 1.27. The business’s fifty day simple moving average is $131.79 and its two-hundred day simple moving average is $128.86. 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 (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 earnings per share. Analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is currently 37.30%.

Insider Transactions at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Landers sold 766 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider owned 7,313 shares in the company, 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. Corporate insiders own 0.77% of the company’s stock.

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.