Korea Investment CORP Invests $16.07 Million in Northern Trust Corporation $NTRS

Korea Investment CORP acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 92,456 shares of the asset manager’s stock, valued at approximately $16,073,000. Korea Investment CORP owned about 0.05% of Northern Trust as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Northern Trust during the second quarter worth approximately $2,523,781,000. State Street Corp boosted its holdings in shares of Northern Trust by 1.0% in the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after buying an additional 97,584 shares in the last quarter. Invesco Ltd. grew its position in shares of Northern Trust by 8.7% in the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after buying an additional 301,164 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after acquiring an additional 161,826 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after acquiring an additional 36,322 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of the company’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 transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NTRS shares. Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a report on Wednesday, July 22nd. Citigroup raised their price target on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Truist Financial lifted their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley increased their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $183.90 on Monday. The company has a market cap of $33.65 billion, a PE ratio of 15.79, a P/E/G ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The stock has a fifty day moving average price of $181.52 and a 200 day moving average price of $163.35.

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

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 27.47%.

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.