Jupiter Asset Management Ltd. Buys 549,681 Shares of Northern Trust Corporation $NTRS

Jupiter Asset Management Ltd. raised its stake in Northern Trust Corporation (NASDAQ:NTRS) by 114.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,031,579 shares of the asset manager’s stock after buying an additional 549,681 shares during the period. Northern Trust comprises about 1.1% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 14th biggest position. Jupiter Asset Management Ltd.’s holdings in Northern Trust were worth $140,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. New Age Alpha Advisors LLC increased its holdings in shares of Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after buying an additional 78 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Northern Trust by 5.1% in the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after purchasing an additional 81 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after purchasing an additional 81 shares in the last quarter. NorthRock Partners LLC lifted its stake in Northern Trust by 2.2% in the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock worth $513,000 after purchasing an additional 83 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Northern Trust by 2.3% in the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In related news, insider Guy Gibson sold 3,009 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the transaction, the insider owned 29,332 shares in the company, valued at $4,176,583.48. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 29,064 shares of company stock worth $4,682,064 in the last ninety days. Insiders own 0.66% of the company’s stock.

Northern Trust Trading Up 0.2%

Shares of NTRS opened at $168.35 on Friday. The stock has a market capitalization of $31.15 billion, a P/E ratio of 17.63, a PEG ratio of 1.20 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $155.69 and a two-hundred day simple moving average of $145.76. Northern Trust Corporation has a twelve month low of $104.99 and a twelve month high of $173.18.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. On average, research analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is 33.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NTRS. Citigroup began coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Truist Financial boosted their price target on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company boosted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $164.08.

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.