Quantinno Capital Management LP Has $76.58 Million Stake in Northern Trust Corporation $NTRS

Quantinno Capital Management LP boosted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 29.1% during the 1st quarter, HoldingsChannel reports. The fund owned 548,708 shares of the asset manager’s stock after acquiring an additional 123,655 shares during the quarter. Quantinno Capital Management LP’s holdings in Northern Trust were worth $76,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Northern Trust during the 4th quarter worth about $257,410,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Northern Trust in the fourth quarter valued at about $126,794,000. AQR Capital Management LLC boosted its position in shares of Northern Trust by 69.0% during the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock worth $235,415,000 after buying an additional 703,985 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Northern Trust by 114.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock worth $140,903,000 after buying an additional 549,681 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Northern Trust during the fourth quarter worth about $67,126,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NTRS opened at $180.86 on Wednesday. The business’s 50-day simple moving average is $175.47 and its 200 day simple moving average is $158.51. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $191.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a market capitalization of $33.47 billion, a PE ratio of 15.52, a PEG ratio of 1.14 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.88 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is presently 27.47%.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on NTRS. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price for the company. in a report on Wednesday, July 22nd. Finally, Citigroup raised their target price on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $180.25.

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.