438,962 Shares in Northern Trust Corporation $NTRS Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 438,962 shares of the asset manager’s stock, valued at approximately $76,309,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Northern Trust as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NTRS. CWM LLC boosted its stake in Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Northern Trust in the fourth quarter worth about $1,959,000. Goldman Sachs Group Inc. lifted its stake in shares of Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after buying an additional 161,826 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock valued at $22,793,000 after buying an additional 170,745 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $67,126,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ NTRS opened at $190.58 on Wednesday. The business’s fifty day moving average is $180.70 and its 200 day moving average is $162.65. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $34.87 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Sell-side analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.8%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is currently 27.47%.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTRS. Evercore set a $179.00 target price on Northern Trust in a research note on Monday, July 6th. Truist Financial increased their price objective on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Citigroup boosted their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. 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 report on Thursday, July 9th. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $180.68.

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.