Panagora Asset Management Inc. Has $33.59 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Panagora Asset Management Inc. raised its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 4,660.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 399,932 shares of the asset manager’s stock after buying an additional 391,531 shares during the period. Panagora Asset Management Inc. owned about 0.20% of Northern Trust worth $33,586,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Primecap Management Co. CA lifted its stake in shares of Northern Trust by 6.1% in the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after purchasing an additional 394,855 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after acquiring an additional 1,553,783 shares during the period. Wellington Management Group LLP raised its holdings in Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after acquiring an additional 3,387,002 shares during the period. Dimensional Fund Advisors LP raised its holdings in Northern Trust by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock worth $149,485,000 after acquiring an additional 8,724 shares during the period. Finally, Confluence Investment Management LLC bought a new position in Northern Trust in the 1st quarter worth $105,665,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS stock traded up $1.01 during trading hours on Friday, reaching $90.50. 766,400 shares of the company were exchanged, compared to its average volume of 1,323,319. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The stock’s fifty day moving average is $85.70 and its two-hundred day moving average is $84.26. The company has a market cap of $18.52 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $1.79 earnings per share. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. Sell-side analysts forecast that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Insider Buying and Selling

In related news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NTRS shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group dropped their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley dropped their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $88.75.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.