Northern Trust Corporation $NTRS Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Northern Trust Corporation (NASDAQ:NTRS) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 795,750 shares of the asset manager’s stock after purchasing an additional 55,124 shares during the period. Victory Capital Management Inc. owned approximately 0.42% of Northern Trust worth $107,108,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its holdings in shares of Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after buying an additional 78 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Northern Trust by 13.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock valued at $90,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. raised its holdings 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 worth $224,000 after purchasing an additional 81 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in Northern Trust by 2.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock valued at $500,000 after purchasing an additional 84 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in Northern Trust by 0.5% during the second quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock worth $2,545,000 after buying an additional 94 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased 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. Citigroup started coverage on Northern Trust in a report on Monday, February 23rd. They set a “neutral” rating for the company. Barclays lifted their price target on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $148.75.

Northern Trust Price Performance

Shares of NTRS opened at $145.07 on Thursday. The business’s 50-day moving average is $145.62 and its 200-day moving average is $135.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.14 and a beta of 1.27. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data 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 net margin of 12.15% and a return on equity of 14.87%. The firm had revenue of $3.15 billion for the quarter. During the same period in the previous year, the firm posted $2.26 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

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

Insider Activity

In other news, insider Guy Gibson sold 1,043 shares of Northern Trust stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $147.43, for a total transaction of $153,769.49. Following the completion of the sale, the insider directly owned 35,013 shares in the company, valued at $5,161,966.59. The trade was a 2.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 1,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $144.05, for a total transaction of $208,872.50. Following the transaction, the chief financial officer directly owned 20,162 shares in the company, valued at approximately $2,904,336.10. The trade was a 6.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,641 shares of company stock valued at $4,269,900. 0.77% of the stock is currently owned by company insiders.

About Northern Trust

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.