Legal & General Group Plc Has $190.40 Million Holdings in Northern Trust Corporation $NTRS

Legal & General Group Plc grew its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,414,595 shares of the asset manager’s stock after purchasing an additional 48,417 shares during the quarter. Legal & General Group Plc’s holdings in Northern Trust were worth $190,404,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its stake in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares during the last quarter. Woodline Partners LP boosted its stake in Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares during the last quarter. Allworth Financial LP grew its holdings in Northern Trust by 43.2% during the 2nd quarter. Allworth Financial LP now owns 1,051 shares of the asset manager’s stock worth $133,000 after acquiring an additional 317 shares during the period. Ironwood Investment Counsel LLC acquired a new stake in Northern Trust during the 2nd quarter worth $204,000. Finally, National Pension Service raised its position in shares of Northern Trust by 0.7% during the 2nd quarter. National Pension Service now owns 345,628 shares of the asset manager’s stock valued at $43,822,000 after acquiring an additional 2,234 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 2.6%

Northern Trust stock opened at $137.30 on Friday. The company’s 50-day moving average price is $145.71 and its two-hundred day moving average price is $136.26. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $25.51 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.12 and a beta of 1.27. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $157.60.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the firm earned $2.26 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be paid a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s payout ratio is 36.61%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of analyst reports. Truist Financial set a $148.00 price target on Northern Trust in a research note on Wednesday, January 7th. Wells Fargo & Company upped their price objective on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Morgan Stanley raised their target price on Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Finally, Evercore boosted their target price on Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $148.75.

Insider Transactions at Northern Trust

In other news, Director Richard Petrino acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $148.91 per share, with a total value of $148,910.00. Following the acquisition, the director directly owned 3,332 shares in the company, valued at $496,168.12. This represents a 42.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Clive Bellows sold 1,148 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total value of $166,758.48. Following the transaction, the insider owned 34,133 shares in the company, valued at $4,958,159.58. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,905 shares of company stock worth $5,166,714. 0.77% of the stock is currently owned by company insiders.

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.