Fifth Third Bancorp Has $6.52 Million Stock Position in Northern Trust Corporation $NTRS

Fifth Third Bancorp lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 308.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,689 shares of the asset manager’s stock after acquiring an additional 35,259 shares during the period. Fifth Third Bancorp’s holdings in Northern Trust were worth $6,516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTRS. Triumph Capital Management bought a new position in Northern Trust in the 3rd quarter valued at about $25,000. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter worth approximately $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Northern Trust during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $188.52 on Friday. The stock has a 50 day moving average of $172.51 and a 200 day moving average of $156.17. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.22 and a beta of 1.25. Northern Trust Corporation has a 12 month low of $118.99 and a 12 month high of $191.60. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 earnings per share. As a group, sell-side analysts forecast that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s payout ratio is 33.51%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the sale, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This trade represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTRS. JPMorgan Chase & Co. increased their price target on Northern Trust from $170.00 to $179.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Bank of America lifted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. UBS Group set a $186.00 target price on shares of Northern Trust in a research note on Friday, June 26th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $178.75.

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.