Hedge Funds Can’t Stop Buying Northern Trust Corporation (NTRS)

With general bullishness amongst the heavyweights, specific money managers have jumped into Northern Trust Corporation (NASDAQ:NTRS) headfirst. Interval Partners, managed by Gregg Moskowitz, assembled the most outsized position in Northern Trust Corporation (NASDAQ:NTRS). According to regulatory filings, the fund had $6.7 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $4.1 million position during the quarter. The following funds were also among the new NTRS investors: Ken Griffin’s Citadel Investment Group, David Costen Haley’s HBK Investments, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Northern Trust Corporation (NASDAQ:NTRS) but similarly valued. These stocks are TD Ameritrade Holding Corp. (NYSE:AMTD), Grupo Televisa SAB (ADR) (NYSE:TV), American Water Works Co., Inc. (NYSE:AWK), and Energy Transfer Equity, L.P. (NYSE:ETE). This group of stocks’ market valuations are similar to NTRS’s market valuation.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $770 million. That figure was $486 million in NTRS’s case. American Water Works Co., Inc. (NYSE:AWK) is the most popular stock in this table. On the other hand TD Ameritrade Holding Corp. (NYSE:AMTD) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Northern Trust Corporation (NASDAQ:NTRS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None