D L Carlson Investment Group Inc. Invests $4.47 Million in Northern Trust Corporation $NTRS

D L Carlson Investment Group Inc. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 25,717 shares of the asset manager’s stock, valued at approximately $4,471,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Northern Trust in the 2nd quarter worth $2,523,781,000. Bank of New York Mellon Corp purchased a new position in shares of Northern Trust in the second quarter valued at about $361,079,000. Norges Bank bought a new position in shares of Northern Trust in the fourth quarter worth about $257,410,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Northern Trust in the fourth quarter worth about $126,794,000. Finally, Deutsche Bank AG purchased a new stake in shares of Northern Trust during the second quarter worth about $144,091,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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Northern Trust Trading Down 1.6%

Shares of NTRS stock opened at $182.51 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The stock’s 50-day moving average price is $181.32 and its 200-day moving average price is $163.13.

Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.13 earnings per share. Equities research analysts predict that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is currently 27.47%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NTRS shares. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Company upped their price target on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Truist Financial increased their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. Finally, UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average target price of $180.68.

View Our Latest Analysis on NTRS

Northern Trust Company Profile

(Free Report)

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.

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