Meeder Advisory Services Inc. bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 3,149 shares of the asset manager’s stock, valued at approximately $547,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC lifted its position in Northern Trust by 1.3% in the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after acquiring an additional 61 shares in the last quarter. CWS Financial Advisors LLC raised its stake in shares of Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock worth $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after purchasing an additional 79 shares during the last quarter. Compound Planning Inc. lifted its holdings in shares of Northern Trust by 4.7% in the first quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 79 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in shares of Northern Trust by 3.2% during the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock valued at $372,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on NTRS shares. UBS Group set a $186.00 price target on Northern Trust in a research report on Friday, June 26th. Truist Financial lifted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $180.68.
Northern Trust Trading Down 1.6%
NASDAQ NTRS opened at $182.51 on Friday. The business’s fifty day moving average is $181.32 and its 200-day moving average is $163.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.04 and a beta of 1.25. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78.
Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 earnings per share. Equities research analysts predict that Northern Trust Corporation will post 11.59 EPS for the current year.
Northern Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is 27.47%.
Insider Activity at Northern Trust
In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.
Northern Trust Company Profile
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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