Ethic Inc. Purchases 2,586 Shares of Northern Trust Corporation $NTRS

Ethic Inc. boosted its position in Northern Trust Corporation (NASDAQ:NTRS) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,082 shares of the asset manager’s stock after purchasing an additional 2,586 shares during the quarter. Ethic Inc.’s holdings in Northern Trust were worth $4,489,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in Northern Trust in the 2nd quarter valued at $25,000. Continuum Advisory LLC boosted its stake in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the period. GFG Capital LLC bought a new stake in Northern Trust in the 2nd quarter valued at $35,000. Zions Bancorporation National Association UT bought a new stake in Northern Trust in the 1st quarter valued at $29,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 130 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the transaction, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS stock opened at $124.74 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The company has a market cap of $23.85 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.40 and a beta of 1.31. The business has a fifty day simple moving average of $129.59 and a 200 day simple moving average of $117.60.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the company earned $2.22 EPS. Northern Trust’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is currently 37.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTRS. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research report on Tuesday, September 30th. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an “outperform” rating in a research report on Monday, June 30th. Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Citigroup upped their target price on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Truist Financial cut their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $130.71.

Northern Trust Company Profile

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.