Glaxis Capital Management LLC Makes New Investment in Northern Trust Corporation $NTRS

by · The Markets Daily

Glaxis Capital Management LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,000 shares of the asset manager’s stock, valued at approximately $2,536,000. Northern Trust accounts for approximately 3.4% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in shares of Northern Trust by 84.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager’s stock worth $199,000 after buying an additional 719 shares in the last quarter. Allianz Asset Management GmbH raised its position in Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Northern Trust by 73.6% during the first quarter. Envestnet Asset Management Inc. now owns 177,308 shares of the asset manager’s stock worth $17,491,000 after acquiring an additional 75,185 shares during the last quarter. Horizon Investment Services LLC lifted its holdings in shares of Northern Trust by 260.5% in the first quarter. Horizon Investment Services LLC now owns 35,101 shares of the asset manager’s stock valued at $3,463,000 after purchasing an additional 25,363 shares in the last quarter. Finally, First Pacific Financial acquired a new stake in shares of Northern Trust in the second quarter valued at approximately $3,118,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTRS has been the subject of several research reports. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Evercore ISI upped their price objective on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company lifted their price objective on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $132.46.

Check Out Our Latest Stock Report on Northern Trust

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz bought 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, with a total value of $500,265.87. Following the transaction, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the sale, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $127.39 on Friday. The stock has a fifty day moving average price of $129.26 and a 200 day moving average price of $122.13. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The firm has a market capitalization of $24.09 billion, a P/E ratio of 14.85, a PEG ratio of 1.37 and a beta of 1.32. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 EPS. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Northern Trust Profile

(Free Report)

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.

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