1,634 Shares in Northern Trust Corporation $NTRS Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,634 shares of the asset manager’s stock, valued at approximately $207,000.

Other institutional investors also recently bought and sold shares of the company. Continuum Advisory LLC lifted its stake in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. GFG Capital LLC acquired a new stake in Northern Trust during the 2nd quarter valued at approximately $35,000. Zions Bancorporation National Association UT acquired a new stake in Northern Trust during the 1st quarter valued at approximately $29,000. Harbor Investment Advisory LLC lifted its stake in 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. Finally, Wayfinding Financial LLC acquired a new stake in Northern Trust during the 1st quarter valued at approximately $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $124.82 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $129.58 and a two-hundred day moving average of $116.71. The stock has a market capitalization of $23.87 billion, a PE ratio of 14.67, a P/E/G ratio of 1.39 and a beta of 1.31. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.34 earnings per share. As a group, research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.80 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, September 5th. Northern Trust’s dividend payout ratio (DPR) is currently 37.60%.

Wall Street Analyst Weigh In

NTRS has been the subject of several research reports. Truist Financial lifted their price objective on shares of Northern Trust from $132.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an “outperform” rating in a research note on Monday, June 30th. Evercore ISI lifted their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.23.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.77% of the company’s stock.

About Northern Trust

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.