Mirae Asset Global Investments Co. Ltd. Purchases 46,124 Shares of Northern Trust Corporation $NTRS

Mirae Asset Global Investments Co. Ltd. purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,124 shares of the asset manager’s stock, valued at approximately $7,812,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intrua Financial LLC lifted its holdings in shares of Northern Trust by 26.4% in the 3rd quarter. Intrua Financial LLC now owns 1,473 shares of the asset manager’s stock worth $249,000 after acquiring an additional 308 shares during the last quarter. MGO One Seven LLC purchased a new position in shares of Northern Trust during the third quarter valued at approximately $280,000. Parcion Private Wealth LLC boosted its position in shares of Northern Trust by 9.4% during the third quarter. Parcion Private Wealth LLC now owns 2,193 shares of the asset manager’s stock valued at $371,000 after buying an additional 189 shares during the period. Soltis Investment Advisors LLC grew its stake in shares of Northern Trust by 131.9% during the third quarter. Soltis Investment Advisors LLC now owns 4,850 shares of the asset manager’s stock valued at $821,000 after buying an additional 2,759 shares during the last quarter. Finally, Choreo LLC grew its stake in shares of Northern Trust by 15.9% during the third quarter. Choreo LLC now owns 6,037 shares of the asset manager’s stock valued at $1,028,000 after buying an additional 827 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $159.00 to $178.00 in a research note on Wednesday, July 22nd. Barclays upped their price objective on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Evercore reduced their target price on Northern Trust from $183.00 to $179.00 in a research note on Wednesday, October 28th. Weiss Ratings downgraded Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average price target of $181.03.

Northern Trust Stock Performance

Northern Trust stock opened at $178.02 on Thursday. The company has a 50 day moving average price of $174.80 and a 200-day moving average price of $165.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.61 and a current ratio of 0.61. Northern Trust Corporation has a fifty-two week low of $121.53 and a fifty-two week high of $195.78. The company has a market capitalization of $32.24 billion, a PE ratio of 13.95, a P/E/G ratio of 0.88 and a beta of 1.21.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping the consensus estimate of $2.87 by $0.53. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. Northern Trust’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. As a group, equities analysts forecast that Northern Trust Corporation will post 12.00 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 2.0%. Northern Trust’s dividend payout ratio (DPR) is 27.59%.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Thomas South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Moritz, Jr. bought 236 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average cost of $169.07 per share, with a total value of $39,900.52. Following the transaction, the director directly owned 8,636 shares of the company’s stock, valued at $1,460,088.52. The trade was a 2.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 22,706 shares of company stock valued at $3,850,282 over the last ninety days. 0.66% of the stock is owned by company insiders.

Northern Trust Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.