Fox Run Management L.L.C. Takes Position in Northern Trust Corporation $NTRS

Fox Run Management L.L.C. bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,250 shares of the asset manager’s stock, valued at approximately $841,000.

Several other institutional investors also recently bought and sold shares of NTRS. Empowered Funds LLC boosted its holdings in shares of Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares during the last quarter. Woodline Partners LP lifted its position in shares of Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares in the last quarter. Brighton Jones LLC bought a new position in Northern Trust during the second quarter valued at approximately $242,000. Wealthfront Advisers LLC increased its stake in Northern Trust by 89.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 16,014 shares of the asset manager’s stock worth $2,030,000 after acquiring an additional 7,582 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Northern Trust by 17.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 207,691 shares of the asset manager’s stock worth $26,333,000 after acquiring an additional 30,383 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Price Performance

Northern Trust stock opened at $147.59 on Friday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $157.60. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $145.32 and a 200-day moving average price of $135.29. The firm has a market capitalization of $27.43 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27.

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

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a $0.80 dividend. 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 is presently 36.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTRS. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Wells Fargo & Company increased their price objective on shares of Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Citigroup assumed coverage on shares of Northern Trust in a report on Monday. They issued a “neutral” rating on the stock. TD Cowen upped their target price on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average target price of $148.75.

Insider Activity

In other news, insider Guy Gibson sold 1,043 shares of Northern Trust stock in a transaction on 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 approximately $5,161,966.59. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 1,450 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $144.05, for a total transaction of $208,872.50. Following the completion of the transaction, the chief financial officer owned 20,162 shares in the company, valued at approximately $2,904,336.10. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,641 shares of company stock worth $4,269,900 in the last three months. Corporate insiders own 0.77% of the company’s stock.

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.